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Long term leases for LOGOS and Dexus

Property Markets / Transactions

Australia

Apr 15 2018

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LOGOS Property and Dexus have secured long-term leases, demonstrating their expansion within the industrial property sector. 
Volvo Group Australia will lease at LOGOS’ Prestons Logistics Estate, Sydney, while e-commerce supply chain group Winit Trade Pty Ltd has signed with Dexus to lease at its Truganina industrial development in Melbourne's west.

The Volvo facility is valued at around $35 million, with the fully leased and developed estate expected to be about $300 million. 

LOGOS will develop a purpose built, multi-branded truck facility at the Prestons Logistics Estate in Sydney's south, with the pre-lease to Volvo Australia marking the second stage of development works and construction expected to be before the end of the year. 

LOGOS joint managing director, Trent Iliffe, said the group was actively working with a number of occupiers to pre-lease the remaining developable lettable area of the estate and on schedule to have it fully leased, developed and operational by mid 2019.

Chinese-based Winit Trade will lease a 21,530sqm warehouse and 300 sqm two-level office on a long-term lease deal with Dexus, following a deal negotiated by CBRE’s Todd Grima.

Mr Grima said there would be no vacancy on completion, as the tenant committed during construction with the lease commencing when the building is finished.

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