Originally published in Courier-Mail’s Prime Site on 28 December 2018 – by Chris Herde.
A glass manufacturer and supplier has cracked a leasing deal in a southside industrial suburb experiencing a surge in demand.
General Glass Supplies has a six-year lease on a 3,400sqm metal-clad office/warehouse at the back of 391 Bradman Street, Acacia Ridge.
FAL Property Group’s John Andrew, who struck the deal, said the company operated on a site nearby through a subsidiary, Mercury Glass, but was growing.
“They’re expanding in size and needed a lot more space. They will be manufacturing and are putting a large glass furnace in 391 Bradman St as well.
They were also attracted to this site because National Glass used to be in this building many years ago.
“The building has an on-site transformer, fully upgraded power and a bit of other infrastructure for glass manufacturing and handling as well.”
The rent was undisclosed but industry sources suggest General Glass will pay between $105/sqm and $110/sqm. Mr Andrew said the property was previously rented by Powermac Cables, which relocated because the space was superfluous to it’s needs.
He said the General Glass lease was signed as Powermac moved out.
The property at 391 Bradman St is on a 8548sqm site which also has a 579sqm freestanding office/showroom that earlier this year was leased through FAL Property Group to Fit 4 Life Health Club.
Mr Andrew said in the past 12 months there has been strong demand southside for properties up to 10,000sqm
“So we’ve seen a bit of net absorption space. But there has not been enough competition to raise prime rents although we’ve seen a bit of the closing of the gap between secondary and prime rents,” he said.
“Demand has also caused an increase in land prices because available land has become increasingly tight.”