Centuria Industrial REIT fills Thomastown factory

Centuria Industrial REIT (CIP) has filled a 12,400 square metre north Melbourne warehouse previously occupied by Amcor.

The ASX-listed landlord will collect annual rent of about $1.02 million – or $82 per square metre – following the deals for 49 Temple Drive.

In the biggest agreement, healthcare equipment specialist Aidacare has committed to a 6964 sqm area.

It will join craft beer maker Multi Bev Co which has leased about 5200 sqm within the modern building.

Both occupiers have committed for a seven year term following deals negotiated by CBRE’s Daniel Eramo and Daniel De Sanctis.

“Centuria’s active management approach in providing flexibility to the existing improvements allowed for multi-tenanting of the building which was instrumental in the successful leasing of the asset” Mr Eramo said.

“Both tenants were drawn to the building’s inner northern location, proximity to key major road arterials and abundance of services available to the building,” the broker added.

CIP fund manager Jesse Curtis said the transactions “demonstrate strong leasing demand from tenants for quality industrial premises between 5000 sqm and 15,000 sqm located near key infrastructure.”

“Our ability to attract and engage tenants across our national portfolio continues to reinforce CIP’s position as Australia’s largest pure play industrial REIT”.

The Temple Road warehouse, which is also tenanted to Orora Bag Solutions, is about 200 metres from the Keon train station.

Melbourne’s CBD is about 15 kilometres away.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.