This article is from the Australian Property Journal archive
FREIGHT and logistics giant Toll Global Express has leased the final speculative tenancy within Frasers Property Industrial’s 23 hectare Braeside Industrial Estate.
Located in Melbourne’s south east, the estate now comprises 62,000 sqm of prime grade modern industrial facilities ranging from 6,000 sqm to 14,500 sqm.
Toll’s high clearance facility at 2 Beyer Rd measures at 10,787 sqm, including 591 sqm of office.
They will join GALE Pacific who leased the adjoining tenancy.
The deal further solidifies the relationship between tenant and developer. Frasers Property Industrial has previously developed for Toll in Port Melbourne, Truganina, Altona and Melbourne Airport.
Anthony Maugeri, general manager southern region for Frasers Property Industrial said low vacancy rates, tight land supply, rental growth and strong demand for premium grade warehouse facilities had driven global businesses and ASX listed companies into Braeside Industrial Estate.
Companies looking to take advantage of new infrastructure linkages, namely the Mordialloc Bypass will also significantly benefit from moving into the industrial park.”
David Aiello of CBRE, who struck the deal with James Jorgensen, said Toll’s requirements were “a little unique in terms of finding a facility that would cater for its all-weather loading activities, high volume of truck movements and parking”.
“Yet again, the company’s ongoing commitment to speculative development has paid-off in a market that is facing a critical shortage of A grade warehousing options.”
Toll will move into their new premises this month.
The facility includes a 34-metre super awning, corporate grade mezzanine office, six roller shutter doors, four recessed loading docks and it is designed to achieve a 5 Star Green Star Design & As Built v1.1 certified rating from the Green Building Council of Australia.
Frasers Property Industrial has one site remaining in the estate which has planning approval for circa 31,000 sqm of gross lettable area.
Braeside Industrial Estate has good access to the Monash Fwy and East Link will be a major benefactor of the under-construction Mordialloc Bypass, earmarked for completion in 2021.