Aware, Barings pre-commit machinery giant to Somerton
Komatsu Australia has pre-committed to a sales centre, workshop and office at one of Melbourne’s largest industrial estates.
The global machinery giant has signed an agreement for a 4800 square metre building at Melbourne Intermodal & Industrial Exchange, or MIIX, at Somerton.
The tenancy will include 8225 sqm of hardstand and machinery display area.
Aware Real Estate and Barings are the landlords.
The deal comes a month since realestatesource.com.au reported Blackstone-controlled AirTrunk was paying $350m for a site at nearby Mickleham with plans for a multi-billion dollar data centre campus.
First deal since rebrand
The Aware and Barings partnership paid $600m for what was then known as the Austrak Business Park at 5-161 Hume Highway at the north-west corner of Somerton Road.
GPT and Austrak Funds Management were the sellers.
The 99-hectare property includes seven assets returning a combined annual rent of $27.4m. Bunnings and Coles are amongst the anchors.
About 38ha of vacant land was marketed for its potential to yield over 200,000 sqm of product.
The deal included the Melbourne Intermodal Terminal project, being developed by Aware’s Intermodal Terminal Company (continues below).
The Komatsu deal is the first pre-lease since a rebrand last year.
The facility will support Komatsu’s sales, servicing and spare-parts operations.
Vaughan Constructions will deliver it. Completion is scheduled in the second quarter of 2027.
Three years ago we reported the group leased a Tarneit property.
MIIX
The Somerton asset is managed by Aware Real Estate, Aware Super’s direct property platform, with Barings responsible for development.
“We are excited to welcome Komatsu Australia to MIIX estate…securing a global industry leader as the first pre-lease customer is a strong endorsement of the quality and long-term vision for the estate,” Barings executive, David Lousick, said.
“This agreement represents an important step in creating a best-in class industrial precinct that supports the growth ambitions of our customers,” he added.
Somerton is about 23 kilometres north of Melbourne’s CBD.
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