Australian-owned food-packaging manufacturer Networkpak will expand its footprint when it moves into a new production facility in Melbourne’s north.
Networkpak has signed a 12-year lease for 360 Settlement Road, Thomastown, an 18,083sqm site with warehousing totalling 9,130sqm accompanied by an expansive hardstand.
It will replace Networkpak’s existing headquarters on the nearby Mahoneys Road.
The Mahoneys Road site, which consists of a pair of improvements totalling 6,650sqm, is owned by Networkpak and will be taken over by subsidiary business CP Gluing.
CBRE’s Joe Brzezek and Daniel Eramo secured the Settlement Road tenancy on behalf of the private landlord.
“Demand for Networkpak’s products has risen dramatically in recent years, due to consumers purchasing more microwaved and pre-packaged meals during the pandemic,” Mr Brzezek said.
“As a result, the company needed a larger facility for its packaging and printing operations.
“Driven by low vacancy rates, we’re seeing strong rental growth in Melbourne’s north, and this transaction sets a new rental rate per-square-metre benchmark in Thomastown.”
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