This article is from the Australian Property Journal archive
CENTENNIAL has secured four new tenants across 21,700 sqm of inner-ring Melbourne industrial assets, including a major deal with global smallgoods processor JBS Foods, as infill vacancies remain razor sharp.
JBS took an 8,133 sqm warehouse at Centennial’s Brooklyn distribution centre, at 600 Geelong Road in Brooklyn, 13 kilometres west of Melbourne’s CBD, for its new Victorian premises.
The 10-year lease was brokered direct by the Centennial team. JBS is also the anchor tenant at Centennial’s 5.3-hectare cold storage facility at Prestons in Sydney’s south west.
Joining JBS at the Brooklyn facility is supplier of standard and custom-made PVC conduit bends and fittings, Sunbeam Alpine. Sunbeam has signed a five-year lease on a 1,207 sqm warehouse with agent Luke Dunstan of JLL assisting with the deal.
In the northern suburb of Campbellfield, at Centennial’s Somerton Park Drive Distribution Centre, 8,015 sqm has been leased to national transport and logistics giant Centurion on a five-year term. The lease was brokered by Knight Frank’s Daniel DeSanctis and Thomas Dodd and Centennial was delighted to secure Centurion as a tenant with minimal vacancy.
Asia-Pacific automotive parts group, GPC (Repco) has secured the remaining 4,416 sqm warehouse B – comprising storage, office and showroom spaces – at Centennial’s 10.3-hectare Tottenham Industrial Park, nine kilometres from the CBD.
CBRE’s Fergus Pragnell and Lachlan May brokered the five-year lease.
GPC joins Tottenham Industrial Park’s two other tenants, Cleanaway and US-shoe manufacturer, Florsheim to fill the available tenancy spaces at the newly redeveloped last-mile industrial park.
According to Cushman & Wakefield, Melbourne’s infill industrial vacancy rate was at just 0.7% at the end of the March quarter.
“The strength of Melbourne’s industrial market remains very robust, especially in the mid-space, infill and last mile subsectors where competition for sites is very high,” said Centennial’s executive director, Paul Ford.
