This article is from the Australian Property Journal archive
ABOUT 6.6 hectares of industrial land owned by the same private investor in Melbourne’s inner western suburbs has been leased to two transport and logistics providers.
Tasman Logistics Services has secured the larger of the two properties, a 4.62 hectare site at 361-367 Francis St, which includes an 11,300sqm warehouse.
CBRE’s Ricardo Cappelletti, Tom Hayes, Todd Grima, and Harry Kalaitzis negotiated the lease, which is for a three year term with a three year option.
The facility will allow Tasman Logistics to continue rapid growth.
“Tasman identified that the site’s close proximity to its main Melbourne depot would deliver major efficiencies, as would the property’s location just eight kilometres west of the CBD,” Cappelletti said.
The site includes expansive hardstand areas for container laydown and trailer parking.
The neighbouring property at 371-383 Francis Street to another was leased to an undisclosed transport and logistics business by Ricardo Cappelletti and fellow CBRE agents Tom Murphy and Fergus Pragnell. The six month lease over was struck at an annual gross rental of $255,000.
That property has a total site area of 19,710 sqm and includes a 6,521 sqm warehouse facility.
Cappelletti said the highly functional facility offered a significant frontage to the busy Francis St thoroughfare.
“The multiple warehouses on the site offer a combined GLA of 5,800sqm and are situated to allow for heavy vehicle access,” Cappelletti said.
