This article is from the Australian Property Journal archive
LOGOS has continued its east coast shopping spree, buying a 9.7-hectare industrial facility in the western Melbourne suburb of Altona North for $27.3 million.
It comes just days after the group purchased an Erskine Park site in Sydney for $18 million and a Larapinta site in outer Brisbane for around $5 million.
The Altona site at 27-43 Toll Drive comprises two adjoining buildings with a combined gross lettable area of 21,720sqm, leased to Toll Transport and Visa Global Logistics.
Logos acquired the site from Cadence Property Group. Visa Global Logistics’ facility was purpose-built for the company, which signed a 10-year lease and moved in last year, whilst Toll will be vacating their building.
Logos made nearby purchases last year, including the Oxford Cold Storage facility and the Toll NQX facility in Altona for more than $250 million in total.
It plans on building $60 million of new facilities on its new Sydney and Brisbane sites.
Australian Property Journal
