The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OfficeEditorial DeskWed 13 Dec 23

Trust Outlays $28m for Lockheed Martin SA Base

A campus-style office asset fully leased to Lockheed Martin Australia has sold off-market for $28.2 million in what’s been described as a show of confidence in the Adelaide market. 

The three-level building at 5-10 Third Avenue, Mawson Lakes, within Technology Park, Adelaide, was bought by the GDA Diversified Property Trust from a Melbourne-based private syndicate.

The asset provides a net lettable area of about 5358sq m on a 3.312ha site and is home to about 350 staff.

Knight Frank agent Max Frohlich handled the deal.

The asset comprises a three-level office building positioned centrally on an L-shaped allotment with at-grade carparking for about 550 vehicles positioned on either sides of the building.

The building has floorplates divided into two wings, with open-plan office areas at either end of the building with reception, common areas, lifts, amenities and plant rooms located centrally in the junction.

The asset, which was originally completed in 1998, was substantially upgraded by Lockheed Martin in 2018.

The facility has low site coverage of less than 10 per cent with significant room for further expansion of the building if required. 

“As a freestanding building, it offers Lockheed Martin the ability to secure the building from the public to a level required by the federal government,” a spokesperson said.

null
▲ The Lockheed Martin Lightning II is operated by the RAAF.

Frohlich, Knight Frank head of institutional sales, SA, said South Australia had a rich defence history, dating back to World War II. 

“The state has a significant and long-standing defence industry presence… delivering many of the country’s largest and most complex defence projects,” he said.

“This transaction brings total office transactions for the 2023 calendar year to $307.45 million in Adelaide, including one unconditional exchange, however with only 33 percent of these sales (by value) occurring in the second half.”

Technology Park, 15km south of the CBD, is a business community of high-tech organisations. Anchored by global companies such as BAE Systems, Ultra Electronics, Codan Limited, Kongsberg, Saab Technologies, Ellex Lasers, and Raytheon Australia, Technology Park is home to more than 100 companies.

IndustrialAdelaideAustraliaReal EstateDeal
AUTHOR
Editorial Desk
More articles by this author
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
The two towers, of 35 and 34 storeys, help cement the SA capital’s growing status as the best place in Australia for the…
LATEST
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
2 Min
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
3 Min
The Adelaide purpose built student accommodation market is about to increase by 1058 beds with the State Commission Assessment Panel supporting two towers in the making.
Student Housing

Highrise Approvals Add 1000-Plus PBSA Beds in Adelaide

Renee McKeown
3 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/sa-adelaide-lockeheed-martin-office-sold