Time and place for LOGOS logistics deal
Logistics property specialist LOGOS has struck an off-market deal with local developer Time & Place to purchase an Epping industrial estate with an estimated end value of $70 million.
LOGOS will take control of three logistics warehouses with a gross leasing area of 46,240 square metres being built at 425 Cooper Street, a key industrial corridor in Melbourne’s north where firms like Mainfreight, Mazda, Bluestar Logistics, Toll, Woolworths, Bevchain and Visy have facilities.
Time & Place is constructing the estate with its funding partner MaxCap after they acquired the site midway through last year.
The three logistics and intermodal facilities ranging between 5815 sq m and 19,730 sq m were set to be seed assets in the MaxCap Industrial Opportunity Fund, but the deal will see the properties offloaded instead.