Lineage Logistics, the world’s largest industrial real estate investment trust specialising in temperature control assets, has acquired a site in Australia from Mirvac for a A$250m (€156.1m) facility.
Lineage will purchase the seven-hectare land parcel at Mirvac’s Aspect Industrial Estate at Kemps Creek in Western Sydney to develop a 36,000sqm cold storage warehouse. ASX-listed Mirvac will develop the facility for Lineage.
“This proposed facility is a game-changer for Lineage in Australia in terms of serving new and existing customers,” said Jeff Hogarth, senior vice president Asia-Pacific at Lineage Logistics.
“Expanding our footprint in the important Sydney market has been a long-term strategic goal for the company, and we’re pleased to partner with Mirvac on this exciting project.”
Hogarth said that, as an internationally-integrated company, Lineage was acutely focussed on further building out the company’s Australian and regional footprint so customers could take advantage of Lineage’s global end-to-end logistics capability.
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