CEVA Logistics has pre-committed to another ESR business park, this time, Berrinba’s Gilmore Industrial Estate, 25 kilometres south of Brisbane.
The occupier will set up a state headquarters in part of the 36,000 square metre facility, due for completion next year.
The initial lease term is a decade.
Spreading 10.4 hectares, Gilmore Industrial Estate can contain c65,000 sqm; it is expected to yield three buildings.
The end value is speculated to be $144.3 million.
CEVA operates from about 62,000 sqm in other Berrinba facilities on and around Australand Drive; owned by Frasers Property Industrial, one is subject to a lease expiring in 2025.
DHL, McPhee Transport, Mitre 10 and QLS Logistics are amongst the region’s other major occupiers.
ESR turns sod at Melbourne estate
Also this month, ESR broke ground at the Green Link Industrial Estate, in Cranbourne West.
Coincidentally, CEVA pre-committed there too, in March, for 37,000 sqm; it will consolidate from several Melbourne warehouses.
About seven more standalone buildings are planned – up to 100,000 sqm (story continues below).
ESR will next year speculatively construct two of those, with a total 18,000 sqm.
With rooftop solar systems and battery storage, the assets are anticipated to be net zero.
Green Link’s end value is expected to circle $700m.
The project is being developed on a 78.8ha tract, 590 and 620 Western Port Highway, which it acquired for a speculated $75m-plus in mid-2020, and is now held by a development focused fund majority controlled by Singapore sovereign wealth fund GIC.
“ESR Australia and CEVA’s partnership is underpinned by a strong alignment of values and future aspirations for both our organisations,” ESR Australia chief executive officer, Phil Pearce, said.
“We’re delighted to extend the partnership to a second site to reinforce the level of service ESR Australia seeks to provide its customers,” he added.
CEVA is based at Marseille, in southern France.
In Australia, its headquarters is at Melbourne’s Tarneit, where it leases several facilities from FPI including a landmark 16.6ha Doriemus Drive property backing onto a freight line.
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