Panel beater leases ex-Mazda distribution centre
Charter Hall has secured collision repair and parts provider AMA Group to the Somerton Logistics Estate in Melbourne’s north.
The occupier will consolidate to the 19,612 square metre warehouse at 880 Cooper Street, between the Hume Highway and Fillo Drive, from two locations.
Starting rent is agreed at $85 per sqm, per annum, ex-incentives.
The initial rent term is seven years.
CBRE’s Daniel Eramo, who marketed the space with Joe Brzezek, said the property offers multiple roller shutter doors, high clearance warehousing and expansive hardstand area.
“The property’s fit for purpose use in a market which is experiencing extremely low vacancy rates was a key draw card for AMA Group,” the agent added.
“The current vacancy rate in Melbourne’s north is just 1.08 per cent…and this has begun to drive rental growth as well as a stabilisation in market incentives,” according to the executive.
Somerton is about 21 kilometres from the CBD (story continues below).
AMA backs north
Somerton Logistics Estate contains nine standalone buildings.
The warehouse AMA will occupy formerly accommodated Mazda’s spare parts distribution centre – that is now at 410 Cooper St, Epping, a much larger (37,237 sqm) facility owned by Frasers Property Industrial.
“We are extremely excited about the increased capacity in such a fit-for-purpose facility, which will help ensure increased parts availability to fulfil the needs of our customers nationwide,” AMA Group executive general manager, Adam O’Sullivan, said.
Charter Hall portfolio manager, Industrial and Logistics, Nick Lidonnici, added the office/warehouse provides AMA with an “unmatched location” and substantial capacity for growth.
Other occupiers within the estate include Saint-Gobain, Technika and Consentino.
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