Logos will build a new 16,000sq m warehouse and office facility for Australian manufacturer and distributor Orrcon Steel in western Sydney.
Orrcon Steel, a wholly-owned subsidiary of BlueScope, has committed to a long-term lease on the facility plus circa 2,200sq m of expansion space.
The move will see Orrcon Steel relocate its Sydney operations to the Logos owned Marsden Park Logistics Estate, with the new purpose built facility marking the commencement of the estate’s second stage.
Through the Marsden Park estate, which Logos head of Australia and New Zealand Darren Searle says has an end value of more than $230 million when completed, Searle said the company plans to deliver a total of 100,000sq m of prime logistics space to the outer west market.
“Western Sydney, with its growing population, significant infrastructure investment and developing key industries, is a strategic market,” Searle said.
Logos' Australian and New Zealand portfolio includes assets and developments across New South Wales, Victoria, Western Australia, Queensland and Auckland, with its development pipeline at more than $2 billion.
Marsden Park Logistics Estate is owned by Logos Australia Logistics Venture (LALV), a partnership established in late 2014 between Logos and its capital partners.
The logistics heavyweight kicked off construction on the 20-hectare Marsden Park facility after working with Blacktown Council.
The estate also includes a purpose built 6,224sq m facility for the global produce distributors, Valleyfresh and a 12,515sq m facility for eStore, Australia’s largest third-party logistics provider.
The Orrcon Steel leasing agreement was brokered by CBRE’s Cameron Grier, along with with CBRE Industrial’s Trevor O’Grady and Matt Dunning.