ASX listed group consolidates at Broadmeadows
Reliance Worldwide Corporation will consolidate from two distribution centres to another recently completed next door, in Melbourne’s north Broadmeadows.
The ASX listed group has signed up for an undisclosed “long term” lease for 1A, 120 Northcorp Boulevard.
ESR is the landlord – acquiring the land as part of its ARA and LOGOS takeover, in stages between 2022-2024.
Ivanhoe Cambridge is co-owner.
The 17,345 square metre office/warehouse was developed speculatively – one of four tenancies in two buildings facing William Barak Boulevard.
Broadmeadows Logistics Estate
For years prior to 2020, the 25 hectare Broadmeadows property was a Woolworths distribution centre.
ARA and Ivanhoe Cambridge paid Growthpoint $50.2m in 2020.
Redevelopment of the land as a business park – the Broadmeadows Logistics Estate – started the year later.
With five buildings, it is set to contain c127,000 sqm.
GPC Asia Pacific, behind the Repco brand, was the first group to pre-commit – for 39,000 sqm.
Knight Frank’s Daniel De Sanctis and Thomas Dodd brokered the Reliance deal – also with 82 car parks.
Founded in Australia in 1949, now trading in the Americas, Asia Pacific and EMAA, its brands include SharkBite, JG Speedfit, Reliance Vales and Holman – the latter which moved to a 10,000 sqm space within another part of the estate four years ago (one of the tenancies it will now quit).
Broadmeadows is about 16 kilometres from town.
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