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Cushman & Wakefield expands its retail leasing team to capitalise on Melbourne’s retail sector growth and enhance leasing strategies.
In response to Melbourne’s growth in the retail industry, global real estate firm Cushman & Wakefield has expanded its retail leasing team, appointing D’Andra Rao as retail leasing manager.
Rao brings over eight years of commercial property experience, previously working as a sales leasing consultant at Gorman Commercial.
In her new role as retail leasing manager, she will focus on leasing strategies for landlords and tenants, leveraging her industry expertise to enhance key retail precincts.
Cushman & Wakefield director of retail leasing in Victoria, Cam Taranto, said Rao’s extensive experience and strong industry relationships will strengthen the team’s growth strategy.
“D’Andra’s expertise in the leasing market, combined with her passion for connecting retailers with prime locations, makes her an invaluable addition to our team,” Taranto said.
“Melbourne’s retail sector is seeing a strong resurgence, and we are committed to driving positive outcomes for our clients.”
According to CBRE, retail vacancy rates have steadily declined since H2 2023, now sitting at 6.9 per cent, reflecting a healthier leasing environment.
Additionally, net face rents across Melbourne’s shopping centres and large-format retail (LFR) assets have stabilised, with modest growth recorded in late 2024.
Taranto said that as the retail landscape evolves, landlords are prioritising customer experience to create more vibrant and engaging shopping destinations.
“This shift has been underscored by significant recent deals, including JD Sports, Kingpin, Waterman, and Hemmes, acquiring a site for a major entertainment precinct,” Taranto said.
Cushman & Wakefield’s state managing director of Victoria, Luke Etherington, said the firm was confident in Melbourne’s commercial real estate bouncing back.
“Cushman & Wakefield remains confident in the ongoing recovery of Melbourne’s commercial real estate market and will continue expanding and strengthening its team across various asset classes and markets,” Etherington said.
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