Frasers Property Industrial has secured Mazda as the anchor tenant at its newest estate in Melbourne’s northern suburb of Epping.
The automotive giant has signed a 10-year lease for a 37,235sq m national parts and distribution facility, known as 4Ten Epping, at the 410 Cooper Street estate.
The new facility, currently under development, is expected to be completed in December.
Comprising a 36,275sq m warehouse, and 960sq m of office space, the distribution facility will almost double Mazda Australia’s warehouse footprint.
Frasers Property Industrial's Anthony Maugeri said this latest deal marked its second major deal finalised with Mazda Australia.
“In 2016, we completed the company’s state-of-the-art national headquarters in Mulgrave and are pleased to continue our relationship by building their National Parts Distribution Centre,” Maugeri said.
Mazda will relocate from a smaller warehouse and office space at 880 Cooper Street in Somerton.
Along with the new Mazda centre, Frasers plans to simultaneously develop three speculative buildings at the estate, with a total gross land area of 39,020sq m, and an approximate end value of $50 million.
Maugeri said the 4Ten Epping facility would allow access to Melbourne’s northern suburbs, positioned close to major arterial roads including the Hume Highway and located between two diamond interchanges.
Kerr Group's William Kerr and Peter Kerr brokered the Mazda transaction.
Frasers secured the large 63.4-hectare Epping site in November 2018 for $40 million.
Neighbouring properties include Melbourne’s Wholesale Fruit and Vegetable Market along with large land occupiers such as Mainfreight, Mission Foods, Chemist Warehouse, Visy Australia, Coles, Bluestar Global Logistics, Linfox and Toll Group.
Earlier this year the company, along with Winten Property Group, won approval for the Macquarie Exchange, a $750 million project it describes as a new urban hub.
Singapore-listed Frasers and Sydney based Winten launched the $750 million Macquarie Exchange project in April last year after securing the north-west Sydney site for $30 million.