Sydney commercial property: Logos takes logistics slice for $500m estate
“As an estate developer of scale, this new Eastern Creek logistics estate will provide customers with medium to longer term flexibly for growth in this key strategic location,” said Darren Searle, Logos head of Australia and New Zealand.
On the sell side is Sargents Charity which donates to hospitals, research programs, schools and community centres. Sargents itself has developed extensively the Minchinbury industrial area, close to Eastern Creek and to its Colyton factory.
“There is significant, pent-up demand in the market, particularly for prime industrial land in popular industrial locations such as Eastern Creek which offers unrivalled access to Greater Western Sydney,” said Savills Ray Trimboli, who brokered the off-market deal.
Founded by John Marsh and Trent Iliffe, the Logos platform has ridden the wave of institutional interest in industrial property, expanding across the region to manage more than $27 billion of warehouses and logistics assets.
Its majority shareholder is ESR Group, one of the biggest investment managers in Asia, which itself took over ARA Asset Management, inheriting ARA’s interest in Logos. The Logos founders also retain an ownership stake.