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Jones Lang LaSalle announces another major lease in Darra
BRISBANE, 3 September 2013 – Jones Lang LaSalle’s Chris Cash has announced a 7,198 sqm lease at 725 Boundary Road in Darra, and said the leasing market on Brisbane’s Southside was buoyant and gaining strength.
On behalf of Carlock Investments, Mr Cash has leased the property to Oil Lift Technology for a five year term.
The facility totals 7,198sqm, with 1,258 sqm of office accommodation and a 5,940 sqm warehousing area.
Mr Cash said the deal was finalised prior to the building formally being advertised to the market.
“Oil Lift Technology were drawn to the property due to its access to natural gas and proximity to major arterials within Brisbane’s south-western corridor. There are a limited number of available medium to large freestanding facilities with access to natural gas supply within Brisbane,” he said.
Oil Lift Technology, General Manager, Gus Metz said, “We were in the market for a new facility for some time and were frustrated by the lack of suitable options. We moved quickly when Boundary Road became available. Oil Lift Technology specialises in Artificial Lift Systems for the oil and gas industry and has experienced unprecedented growth in recent times.”
Mr Cash commented that Jones Lang LaSalle had finalised several notable leasing transactions on Brisbane’s Southside in recent times, including 12,000sqm in Richlands and 7,800sqm in Cooper Plains. “We have found the leasing market for well positioned, functional properties to have been buoyant throughout 2013,” he said.
Although not disclosed, industry sources report the rental for buildings similar to 725 Boundary Road in the area would be in the range of $100 to $110 per sqm.
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