Construction of a new office building at a prominent Keira Street site is under way, with businesses now being sought to expand or set-up in Wollongong.
'Gateway on Keira' is located at 134-148 Keira Street, Wollongong, the former Taranto Real Estate and Food World site.
Currently under construction, it is estimated the office spaces will be available for lease in March/April 2020.
The four-level, A-Grade building is being marketed as bringing "premium, architecturally designed office spaces to the heart of Wollongong CBD".
The building also has 87 car spaces.
Knight Frank are the leasing agents for the listing.
"We're seeking firms to consider moving into Wollongong CBD," Knight Frank's Ben Mostyn said.
"The majority of the work that we're doing at the moment is around promoting the benefits of doing business in Wollongong.
"(We're) targeting tenants that operate in Sydney and abroad and are looking at relocating to Wollongong."
Mr Mostyn said there wasn't a great deal of A-Grade office stock available in Wollongong, pointing to the city's A-Grade vacancy rate being 1.4 per cent at January 2019.
"Given the current A-Grade vacancy rate is so small, there will be businesses in the area looking to expand that will consider moving into this site," he said.
"The second level is actually under offer from a local firm.
"Most of the inquiry so far has been from the local market, and Sydney occupiers looking to set up a secondary location in Wollongong."
According to property valuation and advisory company Herron Todd White, while Wollongong's commercial office investment market has performed strongly of late, they believe it has reached the peak of its current cycle.
Mr Mostyn disagreed with this "speculative" analysis, saying Wollongong was still seen as "a safe haven for investment".
"I haven't seen a downturn in sales volumes," he said.
"It's just that there's such a limited availability of premium quality stock.
"This means people want to do business in Wollongong, but there's limited opportunities for them to house their companies. Which is why these buildings are coming out of the ground."