Panel maker leases warehouse in ‘CBD of the north’
Creative Composites, which manufactures panels for recreational vehicles (RVs) and the construction industry, has leased an Epping warehouse about to be vacated by caravan maker Crusader.
The deal means the landlord won’t suffer any vacancy downtime.
The property, 6-8 Dream Haven Court, contains 6000 square metres of area – part of which is configured with offices. There is also hardstand and over 30 car parks.
Elsewhere in the suburb, Frasers Property Industrial recently completed a 3.7 hectare parts and logistics facility for Mazda at the 4Ten Epping business park.
Late last year, Charter Hall purchased a 6.4ha Epping block after pre-committing Visy Logistics to a 34,777 sqm facility.
Epping is CBD of the north: agents
Fitzroys’ Marco Sandrin and Brent Glassford brokered the deal; the rent is undisclosed but older-style space in the suburb commands between $60-$70 per sqm, per annum (story continues below).
Modern industrial space asks between $85-$95.
“This multi-purpose facility instantly appealed to a variety of users due to its functionality as did the property’s location close to the Epping Central precinct,” Mr Sandrin said.
“Epping is undergoing a generational boom that has seen it become a commercial, retail and logistics hub, and emerge as Melbourne’s ‘CBD of the north’,” according to the executive.
“Sandhurst Retail and Logistics is planning a $500m, 140ha industrial estate,” he added.
“Riverlee has also started work on the $2 billion mixed-use development of the former Epping Quarry [a project being marketed as New Epping]”.
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