One of Australia’s largest formwork and scaffolding companies, Acrow Formwork & Scaffolding Pty Ltd has leased a 3,765sqm building in Geebung to consolidate its existing operations.
Located at 280 Bilsen Road, the office/warehouse property features substantial parking and benefits from a prime location within an established industrial precinct.
Sam Higgins and Nick Witheriff from CBRE negotiated the ten-year lease with an additional option term of five years.
Mr Higgins said the site provided a unique opportunity for Acrow to consolidate its three existing south-east Queensland tenancies into one facility, reducing capital outlays.
“The opportunity to consolidate into one facility was particularly attractive for Acrow as was the site’s prime location.”
“Low site cover properties within a 20km radius of the Brisbane CBD are difficult to source and this site provided an opportunity for Acrow to consolidate operations in a desirable industrial region,” Mr Higgins said.
"Increased levels of tenant interest, along with lack of quality industrial availability is reflecting a rise in rental rates for property owners," Mr Witheriff added.
Pictured: Acrow formwork