GLOBAL property services firm JLL has appointed Noah Bernardi as the latest member of its South Sydney industrial & logistics team, as executive
Bernardi is joining JLL from Knight Frank and brings over two years of experience in the commercial real estate industry.
“We are delighted to welcome Noah to the team, and this appointment highlights our continued focus on investing in the best people. His appointment will further strengthen JLL’s offering in the South Sydney market, one of the most in-demand industrial precincts in Australia,” said Peter Blade, head of industrial & logistics at JLL, Australia.
“South Sydney is better connected to the rest of Sydney, more than ever, and industrial sites in the area are becoming increasingly rare.”
“The lack of vacant sites left for development in South Sydney is aiding recent price growth, particularly for land. At the same time, the withdrawal and rezoning of industrial land for alternative uses has placed substantial pressure on the area’s remaining industrial land stocks,” said Blade.
Reports from JLL last month found tenants in Sydney’s industrial market are paying the highest rents in a generation, as ongoing disruptions and low supply push prices to record levels.
Bernardi joins the expanding South Sydney team alongside Murray Pettinger and Mark Silva.
“The strategic addition of Noah to our team will serve as a major benefit to our clients seeking to navigate a rapidly evolving market successfully, while ensuring that we continue to enhance our client service offering and market leadership in the industrial and logistics sector,” said Silva.
CBRE Research’s Q3 2022 Industrial & Logistics Figures report recently revealed Australia’s industrial and logistics supply pipeline for 2022 has been downgraded to 600,000sqm in new space, placing further pressure on an already tight market.
“South Sydney is still one of Sydney’s most active commercial and industrial markets and the future pipeline of industrial developments coming online over the next few years is the biggest the area has seen. The continued expansion of our South Sydney team is testament to JLL’s position as experts in the market, as we are looking forward to continuing this trajectory of growth,” concluded Pettinger.
