New Balance upgrades, upsizes HQ
New Balance will relocate its local headquarters from Cheltenham to Moorabbin’s Morris Moor complex, which is replacing a Philip Morris factory.
The sports brand has signed up for 1500 square metres on the first level of Building 4, 13-15 Cochranes Road.
With the deal, the 12,500 sqm building is 70 per cent occupied; other tenants include Clik Collective, Satara, SBM and Funlab – the latter which committed to 2428 sqm earlier this month.
Neighbouring structures also forming part of Morris Moor are leased to, amongst others, efm Logistics Group, which occupies 2850 sqm after relocating from Mulgrave, and Infomedia, which moved from Heatherton to a 900 sqm space.
Stomping Ground also trades from a brewery, restaurant and beer hall, in Building 6; this was its second venue after the popular Collingwood one. It also now trades from Melbourne Airport.
Schots Home Emporium meanwhile, another Morris Moor occupier, also previously traded from Collingwood.
MP Burke Commercial’s Pat Burke brokered the New Balance deal.
New Balance upgrades, upsizes
Up Property is behind Morris Moor after paying Philip Morris $23.7 million for the 6.72ha site in 2015 (story continues below).
Being repurposed and released in stages, it is expected to contain 51,000 sqm of lettable office, retail and warehouse space, and be worth c$200m.
“New Balance is proud of its heritage as a leading global sportswear provider and it’s only fitting that we have a new space that allows us to play into our history and create a workspace that is authentic to the brand and how we show up every day,” New Balance general manager, Dean Howard, said.
“The decision to move to Morris Moor was simple, the attention to detail in the architectural elements in inspiring and reflecting our brand,” he added.
“Beyond the space itself, the innovating culture, sense of community and vision that Up Property has instilled throughout the site has made this the obvious choice for the new home for New Balance in Australia,” according to the executive.
“We believe that an industry-leading workspace will support our ambitious for growth and provide an environment that reflects the opportunity ahead for New Balance, its staff and customers”.
New Balance’s former headquarters, 47 Wangara Rd, spread 810 sqm.
Its global headquarters is in Boston.
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