Commercial leasing: Watch this space
The amount of space that Brookfield Office Properties has leased to Bank of America/Merrill Lynch in a renewal agreement for office space at the World Financial Center in Lower Manhattan. It is the second-largest office lease signed in Lower Manhattan this year following Conde Nast's commitment to occupy 1 million square feet (92 903 square metres) at One World Trade Center. Brookfield has executed approximately 130,000 square metres of leasing at the World Financial Center thus far in 2011. Brookfield Office Properties is the largest office landlord in the Lower Manhattan market. In addition to the 743,000 square metre World Financial Center, Brookfield also owns and operates One Liberty Plaza and One New York Plaza as well as office buildings in Sydney, Melbourne and Perth.
The gross annual rent that Retail Adventures (trading as Sam’s Warehouse) will pay to lease the Warwick Farm Racecourse bulky goods home maker centre located in the heart of Sydney’s southwest opposite the Warwick Farm Racecourse on the Hume Highway. The property is owned by Centuria Property Funds, which also negotiated the leasing arrangement.
The estimated gross annual rent that electrical contractors John Moss Electrical Pty Ltd will pay to lease a freestanding warehouse at 33 Barry Avenue, Mortdale, in Sydney’s southwest. The three-year deal was negotiated by Ryan Jennings of Ray White Industrial M5. The property is owned by locally based investors and features a vacant 700-square-metre warehouse as well as a 50-square-metre office. The warehouse is located close to Forest Road and King Georges Road.
The amount of office space that Victoria University will lease at ISPT Core Fund’s Central West Business Park on the corner of Ashley Street and South Road, Braybrook, in Melbourne’s inner-western suburbs in a 10-year deal negotiated by Savills Australia Victorian head of office leasing Nicholas Farley. The university will pay a gross rental of $280 per square metre. According to Farley the location is ideal for the university, which is based in the western suburbs with its main campus in nearby Footscray.
The amount of shop space leased to men’s clothing store Lowes Manhattan in Burwood Plaza, a single supermarket based centre located in the Burwood Town Centre, approximately 12 kilometres west of the Sydney CBD. The shopping centre is owned by Centuria Property Funds. Lowes Manhattan will pay net rent per annum of $137,706 plus GST with the agreement negotiated by agents from Savills NSW. Burwood Plaza is anchored by Woolworths Supermarket, Tong Li Asian Supermarket and a Best and Less store.
Know of a commercial leasing deal? Let us know to be included in next week's listing.
