New York’s Central National-Gottesman expands at Rowville

The 495 square metre office/warehouse hit the market last week. Central National Australia is paying starting annual rent of $90 per sqm as part of a three year agreement.

The Australian division of New York based Central National-Gottesman has leased a Rowville office/warehouse less than a week after it hit the market.

The pulp, paper, packaging, tissue and plywood distributor – one of the biggest in the world – has signed at 1/39 Laser Drive for three years.

It is paying starting annual rent of $90 per square metre – the full asking price – following a deal negotiated by Crabtrees Gavin Dumas and Megan Miles.

In Melbourne Central National Australia presently occupies space within a Wantirna South office, about six kilometres away.

With a c2900 workforce, CNG operates out of industrial and retail property in 26 countries.

According to Forbes, the family owned business was the United States’ 67th biggest private company in 2019 – with annual revenue of US$6.2 billion.

Five years ago it acquired Spicers Canada, a subsidiary of the local Paperlinx (story continues below).

Access to arterials, skilled workforce, keeps Rowville tightly held: agent

Central National Australia’s double storey Rowville building contains 495 sqm of area – of which just over two thirds is a high (seven metre) clearance warehouse. It also includes nine car parks.

On the south west corner of Henderson Road – which connects Kelletts and Ferntree Gully roads, it is adjacent to parkland around Corhanwarrabul Creek.

The suburb is about 27kms south east of Melbourne.

“Rowville is a tightly held location with relatively modern premises, easily accessible to major road networks including Eastlink, Wellington and Ferntree Gully roads,” Mr Dumas said.

“Coupled with access to a skilled labour force in the surrounding residential catchment areas there is a consistent demand for quality accommodation,” the executive added. “Leasing activity and transactions are continuing as business looks past COVID-19 and plans for the future”.

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Marc Pallisco

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

Marc Pallisco