Logos, part of the ESR Group, has bought an industrial site in the east coast of Australia, the fourth acquisition for its unlisted flagship.
Logos, which is acquiring the asset in Sydney’s west on behalf of the Pan Asia Logistics Core+ Venture did not disclose the vendor nor the price of the transaction.
However public records showed that the US data centre group, Digital Realty last acquired the site in Erskine Park for A$97.7m (€60m) in 2021. Digital Realty owns two data centres at the industrial hub.
Logos will develop the site into a prime, multi-unit logistics estate offering over 40,000sqm of gross lettable area.
Logos head of ANZ, Darren Searle, said: “The demand for top-tier warehouse space and logistics facilities remains extremely high, driven by supply chain operators seeking to broaden their operational footprints and the global expansion of e-commerce.”
As one of the last freehold development sites available in Erskine Park, 78 Lockwood Road would be a highly sought after facility, he said, adding that as part of the fast-growing Greater Western Sydney region, the site had excellent access to major transport arterial routes serving both Sydney and interstate regions.
PACV was launched in late 2022 with a focus on investing in Asia Pacific prime logistics opportunities.
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