Swank retailer leases ex-Target distribution centre
King Living is the latest group to commit to Target’s enormous former distribution centre, now a business park with eight tenancies, at Altona North.
The Sydney based high-end furniture retailer has rented 6641 square metres being Warehouse 3, 30-68 Taras Avenue.
The group already has a showroom in the west – 143 Harvester Road, Sunshine.
The new space, with provisions for over 10 loading docks, will be a dedicated logistics hub servicing the state.
Urban Logistics Co – a joint venture between Wentworth Capital (formerly NashCap) and a fund managed by BlackRock Alternatives, like King Living, headquartered in Sydney – is the landlord, paying $55m for the 10.2 hectare holding in 2020.
With 41,000 sqm, the improvement was split into configurations between 5000-16,000 sqm.
Hampers With Bite, InterCentral Logistics and Shiperoo are amongst other occupiers.
Longer term, the landlord has flagged adding 12,000 sqm of product.
TMX’s Daniel Kelly represented King Living, established in 1977 by David King and his mother, Gwen, now with 28 showrooms nationally.
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