A corporate style office warehouse facility has changed hands for $3.87million in a deal negotiated by Colliers International’s David Gibson and Bevan Galloway after a 4 week Expressions of Interest campaign.
The vacant facility at 4/29 Smallwood Place, Murarrie was purchased by a private investor looking to capitalise on a strong local leasing market.
The 1,996sqm facility is comprised of approximately 550sqm of corporate style office space with a clearspan warehouse of approximately 1,446sqm.
“Like most Metroplex listings, we saw strong demand from investors and owner occupiers throughout the short campaign with a total of five formal offers. Tenants also showed interest, however the preference from the vendor was to sell as their business plans to focus on their operations in other states” said selling agent David Gibson.
“The southern TradeCoast precinct is also going through an interesting period with a large buyer pool for assets of this nature and minimal stock on the market for sale- this is resulting in highly competitive campaigns”.
“Metroplex is home to some of the world’s largest occupiers and it attracts strong interest from corporate style tenants. The vacancy levels in the estate are extremely low at this time which is why this particular investor is taking a punt " said Bevan Galloway.
“Buildings of this size are usually freestanding, however because this unit offers generous car parking, multiple roller doors and the Metroplex location, it was well received by the market".