JLL signs off 10,000sqm lease in Pinkenba, Brisbane
BRISBANE, 28 May 2020 – JLL’s Director of Industrial, Brendan Delahunty has finalised a significant 10,000sqm+ lease in Pinkenba in the heart of the Australia Trade Coast precinct.
Sunshine Coast-based manufacturer Octeros Cabinets has leased 157 Holt Street in Pinkenba for a five-year period in what is a significant lease for the area.
157 Holt Street is a three-year old office and warehouse facility sitting on a site area of 1.491ha.
Mr Delahunty said, “The property is outstanding and features a 10,300sqm A-grade office and warehouse facility with a large 1,150sqm awning that provides all-weather loading, which Octeros saw as a positive as they have a high volume of B-doubles to load on the site.
“They were also attracted to the configuration of the property, being on a corner block, as is allows B-doubles to exit the site without consuming a lot of the hardstand as a sweep path.
“Octeros Cabinets plan to use the building as their distribution centre to provide cabinetry to commercial and residential and commercial developments across the country.”
“The lease has been finalised at $1,236,840 per annum which is a good result for the area, given the current leasing environment,” said Mr Delahunty.
He said the office and warehouse facility was located in a prime position.
“The site sits on the corner of Holt Street and Curtain Avenue, two of the major arterials through the Eagle Farm / Pinkenba industrial precinct, which is at the centre of the Australia Trade Coast. “This precinct is always going to be an area of high demand for industrial occupiers, given it houses the port and the airport and is 15 minutes from Brisbane’s CBD. Also, the extensive upgrades that have been undertaken to the road network in the immediate area over the past 10 years have resulted in an area that allows major occupiers to access arterial networks in all directions with ease.
“This road access was of major importance to Octeros, who can have multiple truck movements between the Sunshine Coast manufacturing facility and Pinkenba daily, whilst also sending trucks interstate from Pinkenba also daily,” said Mr Delahunty.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.