Engineered joining technology manufacturer Norma Group is set to relocate to Logis Eco-Industrial Business Park.
Engineered joining technology manufacturer Norma Group is set to relocate to Logis Eco-Industrial Business Park, as part of a growing trend of major corporations moving to the Dandenong South industrial precinct.
The global company has signed a pre-lease for a 3,000sq m state-of-the-art office/warehouse on Bazalgette Crescent to be fulfilled by market-leading developer, BFD Construction.
Kosta Filinis of Savills Industrial worked closely with both parties to negotiate the seven-year term. Industry sources believe rental rates for similar asset in the precinct are circa $100-$110 per sqm.
“This lease term is a sign of the commitment from both sides to the project, and has enabled both the tenant and the landlord to achieve their requirements,” he said.
The purpose-built facility will have direct access to Greens Road, the Dandenong Bypass and EastLink, and is located in the Logis North section of the Logis Eco-Industrial Business Park.
“The environmentally friendly estate, which was developed by Melbourne Water and Places Victoria, was particularly attractive to Norma Group, which will establish a major storage and distribution hub at the Bazalgette Crescent address,” Mr Filinis said.
Mr Filinis said the deal was another “outstanding result” for the popular Dandenong South industrial market.
“Major corporations continue to look for space in the south-eastern corridor of Melbourne,” he said.
“The area is consistently drawing occupiers from competing markets, such as Braeside, Scoresby and Rowville.”
Norma Group’s new facility marks another major deal for BFD, which has enjoyed recent successes developing warehouses of a similar size for NSK Australia, Sullair Australia and Terex.