LOGOS completes $330m estate with H&M warehouse
Two years after breaking ground, LOGOS has completed its seventh and final building at the Marsden Park Logistics Estate.
The 27,336 square metre distribution centre will be occupied by H&M Group.
Revealed last October when the hm.com.au ecommerce store was launched – the property is expected to help cut standard home delivery times to as little as two days.
LOGOS added the occupier, also for its brand COS, has signed up for an initial five years.
The warehouse will service its Australian retail store network too.
“The distribution centre incorporates a wide range of sustainability features, such as a 250kW solar system, rainwater harvesting and LED lighting among other initiatives to obtain a 5-star Green Star rating,” according to the landlord.
Marsden Park is about 50 kilometres north west of Sydney.
LOGOS paid a farmer $40m for the 21 hectare parcel which made way for the estate in 2016.
Built and fully leased in two years: LOGOS
Marsden Park Logistics Estate contains product worth a total of c$330 million; all of it is tenanted.
LOGOS head of Australia and New Zealand, Darren Searle, said “it is a great milestone to have leased over 100,000 sqm of space…in the two years since breaking ground” (story continues below).
H&M operates out of 37 Australian stores – but is shrinking its bricks-and-mortar footprint.
There are eight COS outlets.
Two months ago LOGOS paid Qube $1.65 billion for the 243ha Moorebank Logistics Park, the investment holding Qube Moorebank Warehouse Trust and a 34 per cent stake in the Land Trust, which retains leaseholds.
Moorebank is 27 kms south west of the city.
Melbourne industrial lease deals
Meanwhile in Melbourne’s north, Frasers Property Industrial has secured two 10-year pre-commitments at its 4Ten Epping estate.
Crusader Caravans has signed the biggest deal – for a 15,010 sqm complex.
Intel Engineering will move into an adjoining 5760 sqm warehouse.
The landlord added it will construct a 16,972 sqm distribution centre on a speculative basis.
It estimates the end value of the three assets will circle $62m.
