Import spike drives another car storage lease deal
A car import spike at Port Melbourne has driven another major industrial lease deal.
This time, inventory and distribution management giant CEVA Logistics has committed to a 24,140 square metre facility, Warehouse A and B, 9-15 Andretti Court, Truganina, for vehicle storage.
Singapore listed CapitaLand Ascendas REIT is the landlord, it bought the 4.37 hectare holding in late 2015.
Goodyear & Dunlop Tyres was the last occupier.
Truganina is a large suburb spanning Melbourne’s north west to south west.
Andretti Ct is about 25 kilometres from the CBD.
CEVA rolls into another west Melbourne site
As well as servicing the public, CEVA services vehicle storage clients include Mazda, Nissan and Toyota at Truganina facilities (story continues below).
General Motors Holden was once a customer.
“We are noticing a growing trend in the increased demand for vehicle storage facilities,” CBRE’s Harry Kalaitzis, who represented CapitaLand with colleagues Tom Murphy and Tom Hayes, said.
“This is reflective of the increase in the Port of Melbourne’s trade volume for new motor vehicles,” he added, pointing to Port of Melbourne research showing imports circling over 400,000 for the year ended April – up from 250,000 in 2020, the start of COVID.
Another agency listed Warehouse A & B, 9-15 Andretti Ct, last October.
The deal comes two months since we reported an 8.9ha vehicle storage facility in the suburb was assigned between vehicle storage providers at an annual rent of $2m.
ESR Australia owns that asset – predominantly netted hardstand at 51 Dunmore Drive, also facing Vulcan.
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