VidaXL has pre-committed to a national distribution centre it will own at Fraser Property Industrial’s newly launched Canvas West, at Tarneit.
The Netherlands online outdoor furniture and home garden supplier already rents a 30,885 square metre warehouse from the landlord – at Maker Place in nearby Truganina (pictured, top) – on a lease expiring in 2022.
Its next facility will contain a total 70,000 sqm of lettable area – two per cent of which will be offices.
On 11.4 hectares, it is also designed with 10,960 sqm of awnings and car parking.
Sources speculate the completed investment could be worth over $100m.
CBRE’s Todd Grima, Harry Kalaitzis and Tom Hayes brokered the deal (story continues below).
Canvas West at 917 Boundary Road
Canvas West is taking shape on a 41.3ha site at 917 Boundary Road, 25 kilometres west of Melbourne, which FPI purchased from a syndicate for $27.5m in September, 2019.
At the time the landlord said it planned about 150,000 sqm of product with an end value of c$200m, there.
Last year, FPI filled a 310ha Truganina industrial park it has been marketing for 16 years, with a 37,707 sqm lease to CEVA Logistics (which already tenanted 240,000 sqm at the estate).
The developer and investor – which utilises open-listings and often sells direct and off-market – also launched another business park in the city – Rubix Connect at Dandenong South – where it secured Ozito as the first occupier.