A major clothing retailer has signed a lease for a 18,800 square metre distribution centre in Melbourne’s west.
The secured lease at the Dexus’ Foundation Truganina estate is driven by continued strong demand for high quality logistics facilities located along the east coast of Australia.
Dexus has announced it will acquire AS Colour’s existing warehouse in Ravenhall, 21 km west of Melbourne’s CBC, for around $9 million after signing AS Colour to a new shed at 12B Felstead Drive.
The new distribution centre at Truganina Estate will feature drive-around access, a super awning and a prime grade office space enabling the global supplier of clothing apparel to continue to service their Australian market, with the facility expected to be completed in the second half of 2020.
Chris Mackenzie, Dexus Head of Industrial Development, said the company is pleased to welcome AS Colour to its portfolio and work with them on a solution to meet their specific needs for a state-of-the-art automated facility.
“The deal also enables us to further diversify our industrial portfolio through the acquisition of AS Colour’s facility in Ravenhall,” he said.
Dexus is currently developing a total of approximately 135,000 square metres of quality industrial space across Victoria, which includes circa 7,300 square metre facility for Coles and a circa 26,600 square metre facility for eStore Logistics, both due for completion mid-2020.
The company has also started construction on one of Brisbane’s largest built-to-lease warehouse facilities, Freeman Central in Richlands.