Logos acquires logistics estate in Melbourne
Real estate manager Logos has entered into an agreement to acquire a strategic logistics estate in Epping, one of Melbourne’s northern industrial suburbs, via an off-market deal.
The estate, which is currently under development by Time & Place and due for completion in Q2/2021, will comprise three logistics facilities with a total GLA of 46,240 sqm. On completion, the new Logos Epping Logistics Estate will have an estimated value of circa AUD 70 million.
Logos’ head of Australia and New Zealand Darren Searle said: “We have been looking to expand our portfolio into the north of Melbourne for a number of years to support the strong demand from our customers for high quality assets in this area. This new hub provides Logos and our customers with access to three quality logistics and intermodal facilities, ranging from 5,815 sqm to 19,730 sqm, in this key market." (mw)