LF Logistics has expanded its tenancy at a business park being developed by LOGOS in Sydney’s north west Marsden Park.
The occupier in June committed to a 13,000 square metre purpose-built facility – now under construction.
Today it announced it will bolt on another 9700 sqm warehouse – to deal with “growing e-commerce customers in the household goods and apparel business”.
The additional space, within the park branded Marsden Park Logistics Estate, will increase its distribution centre area and provide storage.
LOGOS head of Australia and New Zealand, Darren Searle, said “we are very pleased to support LF Logistics’ strong growth in the Australian market through a second facility in our Marsden Park Logistics Estate, having also delivered a three-storey, 102,197 sqm facility for them at our Wujiang FOHO Ecommerce Hub Logistics Centre in China earlier this year”.
Six of seven Marsden Park Logistics Estate buildings now accounted for: LOGOS
LF Logistics’ latest lease agreement will see a sixth investment constructed at the park, owned by LOGOS Australia Logistics Venture (a partnership between LOGOS and its capital partners created six years ago to acquire and develop distribution centres here).
Other tenants include Australia’s largest third-party logistics provider, eStore, vet wholesaler Lyppard, Orrcon Steel and produce distributor Valleyfresh Global.
Marsden Park Logistics Estate is master-planned for one more building, bringing the total lettable area to about 100,000 sqm and have an end value of about $250 million.
The suburb is 49 kilometres from the city.
We will now help fit-out: local adviser
Property and supply chain advisory TM Insight’s Jack Moroney represented LF Logistics for both the procurement and design of the two Marsden Park facilities (story continues below).
“Our project management team will now assist LF Logistics create a bespoke internal fit out within the high clearance warehouse, which will help optimise…operations,” the executive said.
“The occupation of both facilities will enable LF Logistics to build a logistics hub that accommodates its existing and future clients’ needs.”
Greg Amos, LF Logistics’ national head, added “since announcing our expansion into Australia, we have had strong demand from major brands and retailers and required greater floor space to meet our growing clients’ needs specifically in the e-commerce business”.
“Leveraging our extensive logistics experience across a range of industries in Asia, this new facility will allow us to further grow our presence and network in Australia and further our success in the Asia-Pacific region.”
Busy quarter for LOGOS
Also this week, LOGOS announced it secured Tony Innaimo Transport to 7300 sqm of a 30,000 asset in Melbourne’s west Altona (it rented the balance in February to efm Logistics).
Last month, with Ivanhoe Cambridge, it paid Growthpoint $50.2m for a 25 hectare former Woolworths distribution centre in that city’s Broadmeadows with the intention of replacing it with a business park.
Near to it, in Epping, the landlord also snapped up a c$70m logistics complex vendor Time & Place is still building.
Five weeks ago, a joint venture between LOGOS and the New South Wales Treasury Corporation (TCorp) spent $172m on two Sigma Pharmaceuticals occupied industrial investments, in Kemps Creek and Brisbane’s Berrinba.
Singapore’s ARA Asset Management took a majority stake in LOGOS in March.