The new facility at 42-52 Raymond Ave, Sydney. Photo: Businesswire
International logistics property operator Cabot Properties are signalling their intention to expand in Australia with a $137m purchase in Sydney.
The Boston-based company announced the purchase of a newly-built 19,819 square metre logistics property (42-52 Raymond Avenue, Matraville) in South Sydney, Australia for $137.6 million (USD$91.8 million) from LaSalle Investment Management.
According to the company, the purchase is their first acquisition in Sydney and is part of a strategy to invest in infill industrial real estate in global logistics markets.
“We are excited to expand Cabot’s presence in Australia,” says Sally Box, the Managing Director of Investments (Asia-Pacific) for Cabot Properties.
“As an established product type across Asia but an emerging one in the Australian landscape, multi-story warehouses are attractive for many reasons – among the most important is the increased density, which maximizes land use to both enhance sustainability and increase storage capacity, ultimately supporting greater distribution capabilities.”
The company describes the Raymond Ave property as a Class A, two-story, ramp-up logistics facility consisting of four units ranging in size from 4640 to 5109 square metres.
One of the units is leased to a local roofing material supplier.
The development was built to Four Star Green Star standards with sustainability features that include a 300kW solar PV system, energy monitoring systems, a rainwater recycling system, and an EV charging station.
The company noted that the property’s location offers access to the Eastern Distributor, Southern Cross Drive, M5 Motorway, and the new WestConnex M8 Motorway, which provide access to about 3.4 million residents within a 45-minute drive.
The building is also in close proximity to Sydney Airport and Port Botany, allowing for seamless connectivity to international transport gateways.
The development was delivered by LaSalle Investment Management, together with Hale Capital as Development Partner and Vaughan Constructions as the appointed Builder.
The transaction was managed by Colliers International’s Gavin Bishop, Sean Thomson, Michael Crombie, and Trent Gallagher via an Expressions of Interest campaign.
The new facility at 42-52 Raymond_Avenue, Sydney. Photo: Businesswire
COMPANY PROFILE
Cabot Properties is an international private equity real estate firm focused on the logistics sector.
It operates logistics properties in the United States, Europe, and Asia Pacific.
Founded in 1986, Cabot has invested over $15 billion in logistics real estate, served over 4200 tenants, and operated over 1600 buildings totalling more than 230 million square feet.
Cabot is headquartered in Boston with offices in Atlanta, Chicago, Dallas, Los Angeles, Amsterdam, London, Sydney, Munich, and Tokyo.
Website link: visit www.cabotprop.com.
