Pan-Asian logistics group Logos has entered the New Zealand market with the acquisition of a 10-hectare site to build a NZD200m (€116m) logistics estate.
Logos said it bought the site in the industrial suburb of Wiri for the 55,000sqm logistics estate.
The site is located directly adjacent to the Conlinx Inland Port, which services the Port of Auckland, New Zealand’s largest container port by volume.
John Marsh, Logos’ joint managing director, said: “We are currently in discussions with a number of existing tenant customers from our Asia-Pacific portfolio to develop purpose-built opportunities on the site.”
Joint managing director, Trent Iliffe, said: “The New Zealand industrial and logistics sector has experienced strong growth over the past few years on the back of the country’s underlying economic fundamentals, increasing population and, importantly, the rise in e-commerce.
“We believe there will be many opportunities for Logos to partner with our investors and tenant customers across New Zealand over coming years.”
Logos has AUD$4bn (€2.54bn) in equity commitments to 14 logistics ventures, with a targetted end-value of assets under management of more than AUD$9bn throughout Asia-Pacific.