Automotive giant Scania has leased a distribution centre at 40 Decco Drive Campbell field for its spare parts business. CBRE Daniel Eramo and Joe Brzezek negotiated the 10-year lease transaction on behalf of lessor, Centennial Industrial & Logistics. CBRE Tony Tripodi represented the tenant Scania.

Situated at 40 Decco Drive, the 9,364sqm industrial facility offers multiple loading areas, high clearances and extensive turning capabilities.

Centennial Industrial & Logistics purchased the property, which forms part of a 35,790sqm site, in late 2020. It intends to develop 7,500sqm of additional built-form on the balance of the low-site coverage property.

Mr Eramo said the transaction underlined the current strength of Melbourne’s industrial leasing market.

“Prime grade distribution centres within Melbourne’s north continue to be highly sought-after from occupiers. This is paving the way for an expected influx of speculative development through the final quarter of this year and first quarter of 2022 to meet the increased demand,” Mr Eramo explained.

“Lease absorption of existing buildings in the first quarter of this year has been at an all time high in comparison to previous years, with approximately 80,000sqm leased year-to-date.”

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