Cushman & Wakefield is a leading advisor to occupiers, investors and developers of Industrial and Logistics assets across Australia. We utilise the full scope of Cushman & Wakefield’s services across wide geographies to meet our clients’ comprehensive industrial requirements.
By leveraging our integrated global services platform on every assignment, our clients benefit from the personal attention of a local expert, in addition to the vast knowledge and resources of a global platform.
Join us for 2 minutes whilst we profile our agents around the country. Today, we hear from Tom Molinaro, Executive – Brokerage, Industrial & Logistics – VIC (North-West)
- How did you get into the real estate market?
I was introduced to Cushman & Wakefield by one of their clients to complete work experience while still studying at university. Before I was due to begin work experience, an analyst role became available in the Brokerage, Industrial & Logistics team which I decided to take on instead.
- What is happening in your sector right now?
Melbourne’s industrial market is currently experiencing never before seen rental growth. The catalyst is threefold: record low vacancy; a depleted land supply and immense occupier demand.
- What advice would you give tenants right now?
The majority of buildings coming to the Melbourne market in the next 18-months are going to be speculatively developed. As such, tenants need to be planning their property strategy well in advance and be engaging with agents and developers earlier than ever before to secure a facility.
- What advice would you give owners right now?
With the industrial market moving at such a rapid pace and new benchmarks being set almost weekly, it is imperative to be up-to-date with what the current market metrics and trends are. Keep in contact with your local agent to ensure you’re equipped with the latest market data so you can make the most informed decision at the time.
- What is the best piece of career advice you've ever been given?
Experience is what you get when you don’t get what you want.
- What is one of the most exciting/ challenging or interesting properties you've leased and why?
The first property I marketed for lease consisted of four showroom, office warehouses. These properties leased individually over a 6-month period with each unit achieving a significantly higher rent than the one before it. This illustrated just how quicky the industrial market was moving in relation to rental growth.
- What advice would you give someone looking to get into a role in Industrial?
Now is the time to go for it! Industrial has become one of, if not, the most desirable asset classes in commercial real estate. It is an incredibly exciting time to be involved in this sector.