Logistics company Logos has announced plans to develop a $250 million industrial estate in Truganina.
The company has bought 27.5 hectares of land located at 285 Palmers Road, where it plans to develop a number of warehouses within a master planned industrial estate.
Logos joint managing director Trent Iliffe said the site was an important addition to the company’s logistics property holdings in Melbourne’s west and would allow it to grow with customer demand in the area.
“The Melbourne logistics market has performed strongly over the past number of years and we are confident that the diminishing supply of available zoned and serviced land in Melbourne’s west will start to dictate stronger rental growth for this area going forward,” he said.
The Truganina site’s selling agent, Pierre Ghougassian, industrial sales and leasing director for Cushman & Wakefield, said the land was positioned close to major arterial roads that would help to attract future tenants.
“As demand for new warehouses starts to increase over the next two to three years, Logos will be in a great position to capitalise in what is starting to become a very tight market,” he said.
