LOGOS Property secures Coles 70,000 sqm distribution centre in Melbourne.

Media
Thursday 19th June 2014

LOGOS Property (“LOGOS”) is pleased to announce that it has secured its largest logistics development deal this year, securing grocery retailer, Coles Ltd for a new 70,000 sqm facility in Melbourne’s Truganina. Coles will occupy the facility on a 20 yr lease and the site has expansion capacity for another 10,000 sqm.

Executive Director, John Marsh, said “LOGOS are looking forward to building on the initial success in Melbourne and this is a signal that our development pipeline in Australia is well under way. We have a long standing relationship with Coles and hope to be able to continue to grow our development pipeline through our existing customer relationships”. We have chosen to partner with Vaughan Constructions to build this facility, they build to the highest quality and we are confident in their ability to deliver a facility to meet with Coles high standards.

Construction of the $65m facility will commence in June this year, with completion expected by May 2012. LOGOS on sold the development to entities associated with RF Capital and Corval.

Xact Solutions acted for Coles Ltd on this transaction.

Executive Director, Trent Iliffe, said “Coles is LOGOS second largest customer, with a footprint in excess of 150,000 sqm”. Through our active management platform and customer relationships, we will mutually benefit from our customers growth plans.

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