Speculative development strategies drive major lease deals in Melbourne’s north

RMA Automotive has committed to a major Dexus distribution facility, demonstrating the success of speculative development strategies in Melbourne’s north.

CBRE’s Daniel Eramo and Joe Brzezek negotiated the lease for the super-prime grade facility at 19 Innovation Drive, Mickleham.

“This significant leasing transaction highlights the recent success of the speculative development market in Melbourne’s north, with the last three significant large scale speculative developments being either fully committed prior to practical completion, or shortly there-after,” Mr Eramo said.

“This new wave of large-scale speculative development through Melbourne’s North is creating opportunity for high-quality corporate tenants to service the demands of their growing businesses, and also strategically position their supply chain networks in the centre of Victoria,” Mr Eramo added.

RMA Automotive is a major global supplier of expertly modified vehicles, fleet vehicles, accessories, parts, after sales service and training.

The medium-term lease over the 19 Innovation Drive facility, was signed prior to practical completion. 

The asset includes nine on-grade roller shutter doors, four recessed loading docks, 14.6 metre ridge height and super canopy with expansive hardstand, allowing for truck circulation and marshalling.

Dexus Development Manager, Lydia Gabriel, said the Merrifield Business Estate was a core asset for the group.
 
“Positioned just off the Hume Freeway, 19 Innovation Drive provides exceptional supply chain benefits to Australia’s eastern seaboard with the ability to deliver to approximately 80% of Australians within 12 hours.”

Surrounding national occupiers in the estate include Ford, Dulux, DHL and D’Orsogna.

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