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Jointly developed alongside a new purpose-built distribution centre for tile and stone importer National Tiles
MELBOURNE, 8 FEBRUARY 2018 – Listed Perth based company, CTI Logistics Limited (CTI) has recently moved into a new 15,228 sqm distribution centre in Frasers Property Australia’s (Frasers Property) West Park Industrial Estate in Melbourne’s Truganina.
The Archer Road facility comprises a 14,758 sqm warehouse, 470 sqm office and 64 car spaces. CTI relocated from its Laverton North location and has secured a 5 year lease.
The company’s warehouse was jointly developed alongside a new purpose-built distribution centre for tile and stone importer National Tiles. The combined end value of the facilities is $33.5 million.
Anthony Maugeri, General Manager, Southern Region for Frasers Property Australia comments, “This deal further supports our strategy to create prime A- grade speculative facilities in select undersupplied markets near major infrastructure nodes. We have a strong track record in leasing these types of buildings to blue-chip tenants on long term leases.
“CTI has been in operation for over 40 years. The new facility will help the business service their growing customer base across Australia and will also offer significant operational efficiencies.”
West Park Industrial Estate benefits from major transport links - the Deer Park Bypass is within one kilometre, providing access to the Western Ring Road, Tullamarine Freeway and Calder Freeway. The Port of Melbourne is within a 17 kilometre radius from the site. Major companies already located in the 310 hectare estate include CEVA Logistics, Schenker, Toll, Goodyear, Mitre 10 and Australia Post.
The CTI transaction was negotiated by Joel Davy from Knight Frank and Ben Fahey from Frasers Property.