Growthpoint Properties has upgraded Commercial City, a 14000sqm retail warehouse centre in Strijdom Park, Randburg to accommodate the 5000sqm of flagship motor showroom space of Hyundai Automotive South Africa, a division of Imperial Holdings.
The property is home to a number of retail warehouse tenants over three levels, with a prominence of motor related retailers and wholesalers complemented by home improvement and construction related businesses and other light industrial users. The ability to create a tailor-made motor showroom, combined with location and access, were all key to Hyundai's decision to conclude this deal.
"This tenancy is a positive addition to Commercial City and for the area as a whole," says Keri Page of Growthpoint Properties Industrial. She explains that industrial leasing activity in the area is experiencing improved levels of positive interest and increased take-up.
"Our investment in this property is in line with the company's objective to provide industrial accommodation to a wide variety of tenants, including manufacturing, warehousing and logistics, showroom and motor-related users," explains Engelbert Binedell, Growthpoint Properties Industrial fund director.
"Industrial users are extremely entrepreneurial and have very specific requirements for their facilities. Working together to create an industrial premises which functions well for both the property owner and the client is essential, and we are confident that this has been achieved in the case of the new showroom at Commercial City," he concludes.
