MPM sells Clayton South office/warehouse to Arrow for $10.4m
Arrow Capital Partners is paying MPM Marketing Services $10.4 million for a Clayton South industrial property with a leaseback.
At 110-112 Fairbank Road and 199A Osborne Avenue, it contains a 6625 square metre warehouse with nine metre clearance in parts.
It additionally includes 575 sqm of modern office space.
Developed in the 1980s, then extended in 2010, the structure is surrounded by 1732 sqm of canopy covered hardstand and car parking.
The improvement covers 53 per cent of the 1.37 hectare site.
Colliers International’s Alysia Reilly, Jonathan Mercuri and Sean Thompson were the agents (story continues below).
With options, MPM can stay until 2038
Brisbane based MPM, which owns the Castaway, Costwise, Parego and PrimeSource brands, offered the Clayton South holding leased for an initial seven years, with starting annual rent of $629,496 and fixed three pc rises.
The disposal food packaging group will also pay outgoings. With options it can stay until 2038.
The Industrial 1 zoned parcel, with 63m of Fairbank Road frontage, is six kilometres to Monash Freeway and not much more to Eastlink. Nearby occupiers include Black Swan Dips, Toll, Viridian, Visy and Walkinshaw Performance.
The suburb is 20 kms south east of Melbourne, serviced by the Westall train station.
