This article is from the Australian Property Journal archive
LOGISTICS specialist LOGOS has secured two new tenant leases across circa 50,00sqm GLA at its Moorebank Intermodal Precinct (MIP) development, where the group recently completed $620 million warehousing.
Having acquired the site in for $1.6 billion in December 2021, LOGOS and its consortium partners having been developing the project over the last two years, which is set to become Australia’s largest intermodal freight facility.
The new leases at MIP include a 27,029sqm tenancy taken up by Maersk, a world-leading integrated shipping and logistics company, and 22,726sqm by Sydney Tools, a privately-owned Australian wholesale and retail distributor of industrial tools and accessories.
“We are excited to join the esteemed list of customers at MIP and partner with LOGOS in Australia. At Maersk, we drive our commitment to providing integrated shipping and logistics solutions to our clients worldwide,” said Kylie Fraser, managing director of Oceania at Maersk.
“We look forward to leveraging the strategic advantages offered by the project and working closely with partners to deliver sustainable and environmental-friendly solutions to meet the evolving needs of our customers.”
“This new partnership aligns perfectly with our vision for a more sustainable and efficient future. This collaboration with LOGOS will empower Sydney Tools to make a meaningful impact on reducing our carbon footprint while delivering an improved level of service to our customers,” said Jason Bey, managing director at Sydney Tools.
“The environmentally conscious design of the center complements Sydney Tools’ dedication to reducing its environmental impact and ensuring a more sustainable and efficient supply chain.”
JLL assisted in the transaction.
“Today’s announcement that Maersk and Sydney Tools will join existing high calibre tenants at the estate including Woolworths, Qube Logistics, Mainfreight and Caesarstone is fantastic, and brings the precinct to ~50% leased already,” said Darren Searle, head of ANZ at LOGOS.
“The tenant commitment and interest in MIP reflects the unique value provided by the site, including connectivity to key freight corridors, market-leading ESG initiatives and technology-led warehouse development.”
By the end of the year, around 12,000 solar panels across 31,500sqm of warehousing will have been installed at MIP, comprising approximately 11% of the total solar infrastructure to be installed by 2030.
The solar micro-grid will be capable of supplying the full energy requirement of the precinct, once it is fully operational.
“The demand for high-quality warehouse space and logistics facilities remains strong, as supply chain operators look to diversify their bases in response to distribution challenges and structural trends accelerated by the pandemic and the growth of e-commerce,” added Searle.
“We are proud to have made significant progress in MIP’s development alongside some leading ESG initiatives including the installation of Australia’s largest rooftop solar system with Solar Bay and the removal of more than 12,000 container movements from Sydney’s roads – factors which are also important to tenants.”
All new warehouse developments are designed for resource efficiency targeting at least a 5-star Green Star rating, with the precinct also targeting the IS Design & As Built ratings and 5-star Green Star Communities rating.
This time last month, LOGOS secured a $61.5 million Senior Green Loan for the development of a 5 Green Star logistics warehouse in Melbourne’s inner north, from Nuveen Real Estate.
