LOGOS has extended its relationship with LF Logistics, having committed a further tenancy with the international logistics services provider at its $250 million Marsden Park Logistics Estate in Sydney.
The new commitment takes LF Logistics’ total gross lettable area at the Estate to circa 23,000sqm.
The additional 9,700sqm development will adjoin LF Logistics’ 13,000sqm purpose-built facility, which LOGOS is currently developing, and will be used primarily for the storage and distribution of LF Logistics’ growing e-commerce customers in the household goods and apparel business.
Darren Searle, LOGOS’ Head of Australia and New Zealand said the company are very pleased to support LF Logistics’ strong growth in the Australian market through a second facility at our Marsden Park Logistics Estate, having also delivered a three-storey, 102,197sqm facility for them at LOGOS’ Wujiang FOHO E- commerce Hub Logistics Center in China earlier this year.
“LF Logistics’ new lease agreement marks the sixth facility for the Estate, from the proposed seven buildings, and they join other tenants including Orrcon Steel, Valleyfresh and eStore,” he said.
LOGOS has $4.5 billion of assets under management across Australian and New Zealand including stabilised facilities and developments across NSW, Victoria, Western Australia, Queensland and Auckland, and significant development land to continue to grow the Australian business.
“Since announcing our expansion into Australia, we have had strong demand from major brands and retailers and required greater floor space to meet our growing clients’ needs specifically in the e-commerce business,” Greg Amos, LF Logistics’ Head of Australia said.
“Leveraging our extensive logistics experience across a range of industries in Asia, this new facility will allow us to further grow our presence and network in Australia and further our success in the Asia-Pacific region.”
LF Logistics has partnered with property and supply chain firm TM Insight on the operational design and procurement of both facilities and will act as the project manager on behalf of LF Logistics.
“We were able to secure for LF Logistics the adjoining speculative development to their already committed purpose-built distribution centre. Our project management team will now assist LF Logistics create a bespoke internal fit out within the high clearance warehouse, which will help optimise LF Logistics’ operations,” Jack Moroney, Director at TM Insight said.
“The occupation of both facilities will enable LF Logistics to build a logistics hub that accommodates their existing and future clients’ needs.”
Marsden Park Logistics Estate is owned by the LOGOS Australia Logistics Venture (LALV), a partnership established in late 2014 between LOGOS and its capital partners to acquire and develop prime logistics estates across Australia.
The 100,000sqm Estate includes facilities for Valleyfresh, a global produce distributor; eStore, Australia’s largest third-party logistics provider; Lyppard, a veterinary wholesale distributor; and Orrcon Steel.
It sits alongside major occupiers in the area including IKEA, Lindt Chocolate and Asics, and complements LOGOS’ other logistics estates in the central west, south west and inner west of Sydney.
LOGOS counts some of the world’s largest fund managers as its shareholders, including ARA Asset Management, a leading Asia Pacific real assets fund manager, which took a majority stake in the company in March 2020.