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Rock-solid tenant in functional Triton Drive office building

Rocksolid tenant in functional Triton Drive office building

A high-profile corner property in the popular Interplex Business Park in Albany with a long-term lease to a national-brand tenant presents prospective purchasers with the opportunity to secure a top-tier asset.

Unit A1, 18 Triton Drive in Albany has a total net lettable area of 389sq m comprising office space and amenities in a ground floor premises that enjoys plenty of natural light in a prestigious location in Albany’s commercial precinct. The building also includes 13 dedicated car parks, ample for this tightly held location.

The tenant, Digital Arena, is an IT services provider to national-brand clients and government entities. They provide managed IT services that use Apple as a device of choice, and workflow automation for retail marketing.

Digital Arena recently signed a new six-year lease, backed by a bank guarantee, that will begin on 1 December. They have occupied the building since 2004.

Colliers Directors Matt Prentice and Janet Marshall have been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Wednesday 17 November, unless sold prior.

The rental income for the property is $132,930 plus GST per annum, which includes annual fixed increases of 2 per cent, with three yearly reviews to a market rent. Digital Arena’s new lease includes two further rights of renewal for three years.

Prentice, Director of Sales and Leasing at Colliers, says this property represents an excellent investment opportunity given the strong tenant covenant.

“There’s a rock-solid tenant in place who can operate in all Covid-19 Alert Levels because they are an essential service business,” Prentice says.

“Digital Arena have recently agreed to a new long-term lease in a premises where they have operated for more than 16 years, which shows their commitment to the building and the surrounding area.

“Buyers of all kinds will be attracted to this property given the favourable lease terms in place with incremental income increases during the coming years.

“The Interplex Business Park in Albany is a tightly held location that has extremely low vacancy rates with demand for available buildings outstripping supply.”

Marshall, Director of Commercial Investment Sales and Leasing at Colliers, says ground floor office buildings like this one are highly desirable for buyers of all kinds.

“This property has been kept in immaculate condition and is expertly cared for, while offering high levels of functionality for its occupiers,” Marshall says.

“It is strategically located on the corner of Triton Drive and Canaveral Drive and has good road exposure with easy access from the street.

“Longer term, the building offers the potential of being split into two units, allowing for further diversification.”

Prentice says Albany’s Interplex Business Park remains a hugely popular location for commercial tenants on the North Shore with warehouse distribution, commercial offices, retail, entertainment, and restaurants all prominent in the area.

“Triton Drive offers excellent access to the nearby motorways via Constellation Drive or alternatively the Tawa Drive on-ramp is only a few minutes away. Auckland’s Central Business District is approximately 15 minutes’ drive except during peak hours,” Prentice says.

The property is zoned as Business – General Business Zone under the Auckland Unitary Plan. This designation provides for business activities from light industrial to limited office, large format retail and trade suppliers.


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Matt Prentice

Director

Auckland North

Matt joined Colliers International in 2006 with a focus on mid to upper end industrial & investment transactions.  Specialising in tenanted investments, occupier representation through to vacant land / building sales on the North Shore, Matt was promoted to a North Shore Director in 2015.

In 2011 and 2012 Matt was awarded the "Golden Gavel" for Colliers New Zealand as the most successful auction sales broker across Colliers New Zealand. Matt has been the number one North Shore sales and leasing broker, 2011, 2012 and 2013.  In 2012, was a top 20 performer across Colliers New Zealand and has over $550 million of sales since joining colliers International.

In 2013, Matt was in the top 10 Highest Performing Brokers Nationwide and in 2014, he had a record year completing more than 50 transactions, and  finished in the top 10% of brokers in New Zealand.

In 2015, Matt completed over 60 transactions, more than any broker North of the Bridge, again finishing in the Top 20 brokers in New Zealand.

In 2016, Matt had a record year finishing top 10 in the country and was the top broker on the North Shore. 

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Janet Marshall

Director | Commercial

Auckland North

Janet is a Director at Colliers North Shore located in Takapuna and received the prestigious Women in Property award from the Property Council in 2019.

Janet was awarded Rookie of the Year in 2005, Marketer of the Year in 2013 and promoted to Director in 2016.  

Janet specialises in office and retail sales and leasing, and investment sales.  She is also a Board executive on the Takapuna Beach Business Association (TBBA) and previously on the Board of the Business North Harbour business association.  Janet was also the first female President of the Pinnacle Ski Club in Ruapehu.  Her connections are extensive, and with over 15 years at Colliers International Janet is well respected within the industry.  Janet is passionate about commercial property and is one of the leading commercial brokers in Auckland.


See LinkedIn Profile at  https://www.linkedin.com/pub/janet-marshall/a/27a/a98

Janet's previous  transactions include:

Leasing includes:

  • Accident Compensation Corporation (ACC) 
  • Primepac Ltd 
  • The Warehouse Group 
  • New Zealand Defence Force 
  • The Skin Institute
  • Transaction Services Group
  • Kalmar Construction Ltd
  • Medical Assurance Society
  • The Crate
  • New Zealand Drug Detection Agency
  • Inland Revenue Department  
  • Property Partners  
  • Vision Accounting
  • Ministry of Education  
  • Advanced Management Systems (AMS)
  • McLaughlin Law
  • Automobile Association
  • Straker Translations 
  • Carter Holt Harvey 
  • Goodwin Turner Commercial Lawyers 
  • Smartpay NZ Ltd
  • New Zealand Institute of Education 
  • Waitemata District Health Board 
  • Invenco Group Limited
  • Kiwibank 
  • Leading Edge Telecom 
  • North Harbour Business Association
  • IMS Health  
  • CCH NZ Ltd 
  • Northern Health School 

Sales include:

  • 12, 25 Corban Avenue, Albany
  • B4, 34 Triton Drive
  • B1, 59 Apollo Drive
  • 1/3 and 2/3 Cowley Place, Rosedale
  • 18 Cowley Place, Rosedale
  • 120 Wairau Road, Wairau Valley
  • Unit 6/39 Apollo Drive, Rosedale
  • Unit B1, 34 Triton Drive, Rosedale
  • Unit 1, 31 Northcroft Street, Takapuna
  • Unit 106F Bush Road, North Harbour
  • 8B, 331 Rosedale Road, North Harbour
  • 3 Milford Road, Milford
  • D4, 14-22 Triton Drive, Rosedale
  • 38B William Pickering, North Harbour
  • B2, 34 Triton Drive, Rosedale
  • 1A Nile Road, Milford
  • 14, 100 Don McKinnon Drive, Albany
  • B3 and B4, 17 Corinthian Drive, Albany
  • Unit 9, 100 Don McKinnon Drive, Albany
  • A1, 75 Corinthian Drive, Albany
  • B3, 210 Dairy Flat Highway, Albany
  • 104 Rosedale Road, Rosedale
  • B4, 210 Dairy Flat Highway, Albany
  • D3 and D4, 14-22 Triton Drive, Rosedale
  • 11 Apollo Drive, Rosedale
  • K, 39 Apollo Drive, Rosedale
  • 40C Triton Drive, Rosedale
  • 3A Tarndale Grove, North Harbour
  • G, 4 Antares Place, Rosedale
  • 2A and 2B, 331 Rosedale Road, Rosedale
  • B8, 210 Dairy Flat Highway, Albany
  • 46A-D Constellation Drive. Rosedale
  • B3 and B4, 72 Apollo Drive, Rosedale
  • 4B Argus Place, Wairau
  • B3, 63 Apollo Drive, Rosedale
  • D2, 63 Apollo Drive, Rosedale
  • 450 Glenfield Road, Glenfield

Notable Sales:

  • 2-4 Fred Thomas Drive ($60M)
  • ​Todd Park ($33M)
  • The Hub, Whakatane ($24M)
  • Walton Plaza, Whangarei ($13M)
  • 102 Rosedale Road, Rosedale
  • Bunnings, Whakatane
  • 51 Hurstmere Road, Takapuna
  • 27-31 Park Road, Grafton 
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