Asia Pacific’s largest privately owned logistics company, Linfox, has signed a landmark lease at Stockland’s Forrester Distribution Centre in Sydney’s west St Mary’s.
The occupier will tenant three neighbouring warehouses – a total of 54,952 square metres and all with drive-around access – covering 12 hectares at 40-88 Forrester Road.
O-I Glass, which earlier this year was acquired by Visy Industries, formerly rented the 60,239 sqm complex which agents initially offered for lease as a whole or in part.
In May, Stockland secured Shaw Fabrics for a little less than 10 per cent.
With the Linfox deal, its investment is full.
Fully occupied with no downtime: Stockland
Forrester Distribution Centre is 17 kilometres north of the Western Sydney Airport, which is under construction, and adjacent to the proposed St Mary’s Intermodal Freight Terminal.
It is c370 metres to the suburb’s train station, near the motorways Great Western, M4 and M7, 45kms from the city (story continues below).
“Forrester Distribution Centre is…within close proximity to rail and the major arterials and is positioned to benefit from the infrastructure investment in the broader Western Sydney region,” Stockland general manager, Workplace and Logistics, Tony D’Addona, said.
“In fact, we had no down time following the previous occupier to this new agreement, which was a great outcome in the current environment”.
JLL’s Murray Pettinger, Peter Blade, Greg Pike and Miguel Lee brokered the deal for the industrial estate’s Warehouse A (of 18,814 sqm), B (24,116 sqm) and C (12,022 sqm).
The annual net rent is speculated to be about $100 per sqm.
Linfox, which turns 65 next year, is Melbourne-based.
In 2018 it purchased a South Melbourne office next door to one it acquired three years earlier, with intentions, sources say, to build a new company division headquarters over the amalgamated c989 sqm holding.
O-I Glass relocated from St Mary’s to an $88 million, 50,000 sqm facility at Penrith recently developed by Cadence Property Group and sold to Charter Hall.