22
Oct2012
Australia's Freer Commercial Joins CORFAC International
Falls Church, VA & Sydney, Australia (October 22, 2012) – CORFAC International 2012 President Doug Marshall announced today Sydney, Australia-based Freer Commercial has joined Corporate Facility Advisors (CORFAC) International as its first affiliate in the Asia-Pacific continent.
Started in 2009 by Oliver Freer, the firm focuses on commercial office sales and leasing transactions, predominantly on the East Coast of Australia including Sydney, Melbourne, Brisbane and Canberra. The firm also has capability in industrial and retail brokerage in Sydney. Last year, the company completed more than 800,000 square feet in leasing and consulting transactions in the Australian market. The company prides itself on the longevity of its brokers in the market and all senior brokers have been in the market for in excess of 15 years.
Freer has had a lengthy career in the commercial real estate industry and was formerly with Colliers, Trammell Crow and CBRE. His connection to CORFAC goes back to near 2000, when he did a data center transaction in Australia that was referred to him by a CORFAC affiliate in California.
“Having had international roles previously with Colliers, CBRE and Trammell Crow, I am keen to develop international referral relationships with CORFAC members for both inbound and outbound client services,” said Freer.
For more information visit www.freercommercial.com.au
Sydney Market At-a-Glance:
Total prime office inventory 27,000,000 sq. ft. - Total secondary inventory 26,000,000 sq. ft.
- Total inventory 53,000,000 sq. ft.
- Average vacancy 9.6%
- Average asking rents: prime $60-$90 per sq. ft.
- Average asking rents: secondary $44-$58 per sq. ft.
Industrial Inventory, Vacancy Rate, Average Asking Rents- Total Industrial stock 45,000,000 sq. ft.
- Average vacancy 10-20%
- Average asking rents: $6-$12 per sq. ft.
Retail Inventory, Vacancy Rate, Average Asking Rent- Total retail stock 40,000,000 sq. ft.
- Average vacancy 3.1% (Sydney CBD)
- Average asking rents :$1,021 per sq. ft. (Sydney CBD)
About CORFAC InternationalCORFAC International (Corporate Facility Advisors) is distinguished by the way it manages multi-market commercial real estate assignments on behalf of corporate entities and privately owned companies. Founded in 1989, U.S.-based CORFAC is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services in North America, with coverage in South America provided by Panama-based Latin American Corporate Property Services. A Principal Member of FIABCI – the International Real Estate Federation with global affiliates in Europe and Asia, CORFAC International offers commercial real estate services with market reach in 65 countries worldwide. In recent years, CORFAC firms have averaged 10,000 completed transactions annually encompassing nearly 100 million square feet and valued at more than $6 billion. Contact CORFAC at 703.532.6160 or visit www.corfac.com.
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