The latest deal is the fifth transaction between the companies, with an end-value of more than $61 million.
The 5.2-hectare facility will be the final development at Braeside Industrial Estate.
Anthony Maugeri, General Manager Southern Region for Frasers Property Industrial, says the rise of e-commerce and need for greater offshore production calls for specialised properties.
“We are creating more efficient, advanced and sustainable places for their industrial and logistics operations to grow,” Anthony says.
The site’s 18,068 sqm print production facility and office is adjoined by a 12,755 sqm warehouse.
There is parking space for 275 cars.
IVE Group has committed to 10 and seven year leases for the two buildings, which are due to be completed by December this year.
Matt Aitken, IVE Group CEO, says the purchase will accommodate for five of the Group’s businesses all in one precinct.
“IVE is very pleased to have completed this final stage of its site consolidation program in Melbourne’s South-East,” he says.
Frasers Property acquired the Braeside site in 2017.
The 23-hectare, prime positioned land backs directly on to the proposed Mordialloc Bypass, which is set to be completed by the end of the year.