This article is from the Australian Property Journal archive
DEXUS has secured the commitment of AS Colour to lease a purpose built 18,800 sqm facility in Truganina, which has sold its existing premises in Ravenhall to the diversified property group for $9 million in the two step deal.
The new distribution centre at 12B Felstead Dr, within Foundation at Truganina Estate, will feature drive-around access, a super awning and a prime grade office space, and is expected to be completed in the second half of 2020.
AS Colour, a global supplier of clothing apparel, will make the transition from owner occupier to tenant.
Dexus head of industrial development, Chris Mackenzie said the deal enables the group to further diversify its industrial portfolio through the acquisition of AS Colour’s facility in Ravenhall.
The AS Colour deal was negotiated by Hugh Gilbert of Colliers and CBRE’s Todd Grima.
In addition, Dexus has secured a customer for a built to lease facility across circa 8,300 sqm due for completion mid-2020 and also located within the Truganina estate, where it is developing about circa 60,000 sqm of industrial space. Deals have also been struck with Coles for a circa 7,300 sqm facility, and a circa 26,600 sqm facility for eStore Logistics, both due for completion mid-2020.
Dexus is currently developing approximately 135,000 sqm of quality industrial space across Victoria. Construction of roads and infrastructure is progressing ahead of schedule at Horizon 3023 in Ravenhall, delivering 37 hectares of immediately developable land. The project will include a new purpose-built facility for Scalzo Foods across 35,300 sqm and built to lease facility across circa 36,700 sqm.
In Brisbane, Dexus has commenced construction at Freeman Central, at 425-479 Freeman Rd, Richlands. The build to lease industrial estate spanning circa 55,000 sqm across five warehouse facilities will be on the 9.2 hectare infill site Dexus Australian Logistics Trust acquired in April last year.
