Coconut product distributor MRC Ventures has secured a 280 sqm unit in Morningside, continuing a trend that sees food operations demanding more space in Queensland, according to property agency Savills Australia.
The building includes a small cold storage capable of -21 degrees and will cost $300 per sqm under a five-year lease.
Shaw Harrison, Director of Industrial and Logistics at Savills Australia, negotiated the deal and says cold storage is seeing a surge in demand.
“We had three groups looking at securing the space at once, and in the end the landlord was attracted to the new long five year commitment at asking rental with no incentives,” he says.
The previous building tenant was initially looking to sub lease the space out.
“Testament to the demand at present, we assisted the landlord negotiate a surrender and replace with a new lease, without a single day of vacancy,” Shaw says.