LOGOS Property has extended its relationship with LF Logistics which has inked a deal for additional space at the $250 million Marsden Park Logistics Estate in Sydney.
The new 9700 square metre commitment takes LF Logistics’ total space at the Estate to about 23,000 sq m and will adjoin the group’s 13,000 sq m purpose-built facility, which LOGOS is currently developing.
The extra space will be used primarily for the storage and distribution of LF Logistics’ growing e-commerce customers in the household goods and apparel business.
The new lease comes amid long-running speculation that LOGOS is in the running for the $2 billion Qube Moorebank logistics park. LOGOS declined to comment on the speculation.
LOGOS’ head of Australia and New Zealand Darren Searle said the deal reflect LF Logistics’ growth in the Australian market through a second facility at the Marsden Park Logistics Estate.
LOGOS has also delivered a three-storey, 102,197 sq m facility for them at our Wujiang FOHO E-commerce Hub Logistics Centre 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,” Mr Searle said.
He said tenants are attracted to the Marsden Park Logistics Estate with its transport access to the M7, M4 and the NSW State Government’s planned M9 Orbital.
LF Logistics’ head of Australia Greg Amos said since the company’s expansion into Australia, there has been strong demand from major brands and retailers and required greater floor space to meet the group’s growing clients’ needs specifically in the e-commerce business.
“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,” Mr Amos said.
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.