Meadowbrook commercial building sells for $5.42 million

A COMMERCIAL building in Meadowbrook has sold for a staggering $5.42 million amid an off-market campaign in a sign of the strength of Logan's real estate market.

OFF THE MARKET: A Meadowbrook building at 1-15 Beal Street sold for $5.42 million.

OFF THE MARKET: A Meadowbrook building at 1-15 Beal Street sold for $5.42 million.

The 3,836 square metre tilt panel freestander sits on a 6743 square metre corner land allotment at 1-15 Beal Street.

Ray White Industrial Milton associate director of Sales and Leasing Jaems Balfour sold the site to the owner of a manufacturing and engineering business.

Mr Balfour said Meadowbrook was a high demand estate located two minutes from the Pacific Motorway, making it an ideal location for transport.

"I'd been in contact with the owners regarding an expiring lease and managed to introduce a Sydney business owner who owns multiple businesses across the country," he said.

"The buyer was attracted to the high ceilings, the corporate presentation and large power supply the property provides.

"They intend to install a crane and retro-fit the site to suit the expansion plans they have for their business.

"We're seeing a resurgence in requirements for heavy-use manufacturing facilities with good power and crane capabilities, as most of the newer developments are more targeted towards logistical businesses."

This comes as two competing Coles and Woolworths Shopping Centre developments were announced at Flagstone earlier this month to be completed by mid 2020.

The Coles Flagstone Village Shopping Centre will be built with nine specialty shops near the existing SUPA IGA retail centre while the Woolworths Flagstone Central Shopping Centre will include at least 20 specialty shops including a fast food drive thru and petrol station.