Victoria logistics hubs change hands for $27m

Macquarie Capital-backed investment management company Logos has purchased a logistics facility in Altona North, Victoria for $27.3 million.
The Sydney Morning Herald reports that Logos acquired two adjoining buildings through the deal, leased to Toll and Visa Global Logistics, and the facility has a combined gross leasing area of 21,720sqm.
Logos purchased the asset from Cadence Property Group. The facility occupied by Visa Global Logistics was completed in 2016 and the company is currently on a 10-year lease.
The second building is soon to be vacated by Toll, though Logos Managing Director, John March, has reported that there is strong interest from potential occupiers looking to backfill the space.
“We are very confident with the demand and dynamics of the Altona North market, giving us confidence to take leasing risk for an asset of this size and nature,” Marsh said.
Last year, Logos purchased the Oxford Cold Storage facility and the Toll NQX facility in Altona, which together cost more than $250 million.