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AirRoad Logistics Leases New Derrimut Headquarters

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Written by Marc Pallisco   
Wednesday, 01 December 2010 00:49

AIRROAD Logistics will relocate its headquarters from Laverton North, to an as-yet-unbuilt 21,500 square metre office warehouse at the Paramount Industrial Estate, in nearby Derrimut, after signing a 10-year lease for an Elgar Road facility.

Colliers International’s Stephen Newsham and Nathan Bingham negotiated the pre-lease for the land owner, a private investor.

Sources speculate market rents at Paramount circle $57 per square metre, per annum before incentives (a rental discount offered to tenants, usually in the form of a rental discount, or contribution to fit-out).

Mr Newsham said industrial pre-leases for unbuilt Melbourne facilities has totaled 220,000 square metres this year.

Elsewhere in the immediate area, Slidecross Transport recently committed to an established 20,000 square metre office warehouse at 463A Somerville Road, Brooklyn, previously occupied by Matrix Transport.

Across town, automotive retailer Autobahn recently leased a 22,541 square metre office warehouse in Nunawading, previously occupied by Pacific Brands division Holeproof, before it moved offshore in 2009.

The Nunawading factory is owned by the Perth-based Aspen Group, which this week sold the L’Oreal headquarters building at 564 St Kilda Road for $33.3 million after paying another Perth based fund manager, Cape Bouvard, $25 million for it in November 2004.