Stockland today announced a new warehouse and distribution lease of 5,221 square metres at its Altona Industrial Estate in Melbourne’s inner west to Freight Assist Australia.
The national transport and logistics company has signed a five-year lease with Stockland to lease the office and warehouse facility at 201-207 Maidstone Street, Altona. The new facility is double the size of Freight Assist’s previous premises, which will provide scope for future expansion as the firm continues its rapid growth plans in the Australian market.
Tony D’Addona, General Manager Logistics and Business Parks at Stockland, said: “We continue to see high demand for quality warehousing and distribution premises across Melbourne and Sydney. Altona’s enviable position in Melbourne’s inner west and direct access to transport hubs provides a great opportunity for Freight Assist to further grow its business.
“Our portfolio of prime assets, together with our strong asset management capabilities, backed by a firm commitment to our customers means we are well placed to deliver flexible and functional property solutions now and into the future.”
Freight Assist Australia’s National Business Manager, Brendan Tate, said: “Freight Assist Australia is now entering its fifth year of operation and we are well on our way to becoming a significant player in the national express freight industry. We plan to continue our growth trajectory, while ensuring the fundamental values of our company are upheld”.
“We have evolved from a small start-up company in 2012 to a multimillion-dollar business in a very short time, which has been made possible by our loyal customers and staff and for that we are thankful.”
CBRE’s Associate Director Todd Grima, said: “The tenant was attracted to the property’s inner west location and superior fundamentals of the building, which include a corporate office and amenities, high clearance warehouse, full drive around and drive through capability and extensive, secure hardstand areas.
“The strong tenant interest in Melbourne’s inner west is also helping support rental growth and place downward pressure on incentives.”
Stockland’s Altona Industrial Estate is a 15 hectare property located in Melbourne’s inner west, close to the Western Ring Road and Princes Freeway. The estate comprises nine separate buildings with a mix of modern and well-established warehouses, a high land component and separate titles, offering exclusive access and segregation for tenants. The estate also includes approximately 64,000sqm of land which could be redeveloped in the short to medium term to the suit specific needs of new, long-term tenants .
Stockland’s Logistics and Business Parks business is valued at $2 billion making up one quarter of the company’s Commercial Property portfolio and 15% of the total portfolio.