This article is from the Australian Property Journal archive
BEVERAGE manufacturer Nu-Pure is expanding its Victorian footprint, pre-leasing a purpose-built facility in the western suburbs that will form part of a $35 million estate owned by Centennial Industrial & Logistics.
Nu-Pure, which manufactures 100% Australian-made beverages, signed a 10-year deal at the Boundary Industrial Park. The 9,010 sqm distribution facility will adjoin Centennial’s existing asset at 383 Boundary Road.
Nu-Pure already has a base next door at 391 Boundary Road, with the new development to house its growing business operations.
Centennial acquired the existing buildings and land in 2019.
CBRE’s Harry Kalaitzis, Tom Hayes and Todd Grima brokered the deal on a net rental rate of $88 per sqm.
“The site fits perfectly with Nu-Pure’s growth plans, being located next to its existing base and providing excellent efficiencies for its business operations,” Kalaitzis said.
The property offers access to major road networks including the West Gate Freeway, Western Ring Road and Princes Freeway.
“This transaction allows us to continue executing our strategy of acquiring under-utilised assets and repositioning and/or further developing them to create institutional quality product,” Paul Ford, executive director of Centennial said.
“We have already had success repositioning and leasing the front units of the Boundary Industrial Park, which when combined with the Nu-Pure facility, creates a newly-constructed circa-$35 million estate in the heart of Truganina.”
The company’s national investment portfolio includes more than 30 assets across Victoria, Sydney, Adelaide and Queensland.