“It was the first in Victoria to obtain a six-star Green Star Design & As Built rating for CEVA’s supersite and subsequently received six stars for CEVA Alliance and CEVA Tech (Nissan). Five stars were also achieved for CEVA Toyota, Visy Australia and National Tiles/CTI Logistics from the Green Building Council of Australia,” Mr Maugeri said.
“A wide range of industrial users with a preference for warehousing, manufacturing, distribution and storage facilities in the west chose this estate, where there have historically been large tracts of land available and cheaper rents when compared to other sub-markets.”
Under the deal, CEVA will utilise the state-of-the-art storage and distribution facility for a new vehicle logistics contract. Completion is expected early in the fourth quarter of 2020.
In Melbourne’s Thomastown area, Centuria Industrial REIT has also fully leased its 12,400 sq m office/warehouse to two separate tenants. Previously occupied by Amcor, the site is at 49 Temple Drive.
The property will now house beverage production business Multi Bev Co and healthcare equipment specialist Aidacare, providing a total net income of about $1.02 million a year.
CBRE’s Daniel Eramo and Daniel De Sanctis negotiated both lease deals on behalf of Centuria.
The strength of the industrial and logistics property sector will be borne out in the upcoming reporting season, with developers and landlords tipped to announce increased exposure to warehouses as demand rises from e-commerce and third-party logistics businesses.
On another lease, King Living, Krost and Auto Parts Group join the Charter Hall Industrial & Logistics tenant customer portfolio, each securing purpose-built warehouse and office facilities at Woodpark Logistics Estate in Smithfield, NSW, an asset of the Charter Hall managed Core Logistics Partnership (CLP).
Acquired in 2014, the 5.3 ha site at 386-400 Woodpark Road, Smithfield, is being redeveloped from a car storage and processing facility into a premier logistics estate that will serve as a distribution hub for these three well-known retailers.
In a separate Sydney deal, Frasers and Winten Property Group received the green light to develop the country’s first community business district – the $750 million Macquarie Exchange, which is set to transform Macquarie Park, Sydney’s commercial business district.
At the entrance to Macquarie Park’s new Sydney Metro station, Macquarie Exchange will convert a 15,620 sq m site into 83,368 sq m (gross floor area) across four buildings.
Ian Barter, general manager northern region for Frasers Property Industrial, said Macquarie Exchange would deliver a pedestrian-focused development.
“Delivering on Ryde Council’s ‘Ryde after 5’ and ‘Macquarie Park CBD’ aspirations, the development is expected to provide a much-needed revitalisation of Macquarie Park,” Mr Bartar said.
Carolyn Cummins is Commercial Property Editor for The Sydney Morning Herald.