Beer brewer Asahi froths over Logos warehouse
Japanese brewer Asahi Beverages has committed to a new warehouse facility being developed by Logos Property at the Heathwood Logistics Estate in Brisbane in one of the city’s largest industrial deals this year.
Logos plans to develop a purpose-built high-bay warehouse and office facility for Asahi Beverages, which will take a 20-year lease.
The drinks company is part of Asahi Group Holdings, the top Japanese beer, spirits, soft drinks and food company. Asahi Beverages will become the estate’s first occupant after Logos bought the Heathwood site earlier this year.
The deal was introduced by the director of industrial transactions for Ray White Commercial Queensland, Graham Norris.
This will set the benchmark for the quality of facilities we can provide across our estates in Australia and the region
Logos will develop the 20,000sqm facility by October next year. Asahi Beverages will also have the capacity to occupy another 4500sq m of warehouse space in future.
Logos joint managing director John Marsh says the facility will include about 12,000sqm of automated warehousing systems.
“This will set the benchmark for the quality of facilities we can provide across our estates in Australia and the region,” he says.
The Heathwood Logistics Estate is one of several prime development sites owned by the Logos Australia Logistics Venture, set up in late-2014 between Logos and its capital partners to acquire and develop prime logistics estates across Australia.
The Heathwood Logistics Estate can accommodate a further 110,000sqm of development for premium logistics and warehouse use and upon full build-out the estate’s value is expected to be worth about $275 million.
This article originally appeared on www.theaustralian.com.au/property.