On July 25, Frasers Property Australia announced that it has inked 10-year lease agreements with four new tenants, for purpose-built facilities in one of its Melbourne industrial park developments.

CH2, Stanley Black & Decker, Silvan, and Rubie’s Deerfield have signed tenancy agreements with Frasers Property for between 97,198 sq ft to 233,815 sq ft of space each, at The Key Industrial Park in South West Melbourne. ARB also purchased a 172,224 sq ft warehouse in the industrial park.

Over at West Park Industrial Estate in Melbourne’s West — another development under the Frasers Property portfolio — Ceva Logistics and National Tiles have leased a 400,170 sq ft warehouse and a 160,070 sq ft building for 10 and six years, respectively.

Source: Frasers Property Australia

According to Anthony Maugeri, general manager of the southern region for Frasers Property Australia, the two industrial parks are easily accessible from Melbourne’s CBD and major transport infrastructure.

The deals create new assets with a total end value of about $190 million, says Frasers Property Australia.