VIRGINIA WAREHOUSE SPACED OUT
Virginia Warehouse Spaced Out
A TRAFFIC and road safety solutions company has secured additional space around the corner from their long-term home in a tightly held outer northern industrial precinct.
Schramm Group has a long-term lease on a free-standing corporate office/warehouse at 23 West Place, Virginia, after a deal struck by Raine & Horne's Lawrence Temple and Jack Hawkes.
Mr Temple said Shramm remained on the corner of Northlink Place and West Place and the leasing deal doubled the size of their space.
"It's additional space for them and they were attracted to the property because it was so close," he said. "We actually had multiple offers on the building and this group was chosen because they had a better covenant. There is very little available in Virginia, which is pretty much all built out now."
On a 4500sqm site with a large concrete handstand area, the 2090sqm office/warehouse includes a high-bay, clearspan warehouse and multiple container-height roller-doors with awnings.
It was occupied for 12 years by Australian Stainless Distributors (ASD), which relocated to a larger corporate facility at Meadowbrook, south of Brisbane. Schramm will be paying $290,000 a year plus outgoings and GST.
Mr Temple said Schramm's lease started the day after ASD's lease expired. Mr Hawkes said the current vacancy rate in Virginia would be well under 1 per cent.