ESR Australia secures first two anchor tenants at new Acacia Ridge Business Park

ESR Australia will soon commence the redevelopment of their newly acquired site, Acacia Ridge Business Park, with Food Packaging Australia (FPA) and SPRAR Australia (SPRAR) as the first two anchor tenants.

FPA and SPRAR have signed long-term leases of seven and 10-years, respectively.

ESR Australia CEO, Phil Pearce, noted that leasing enquiries at Acacia Ridge have been very strong, with several tenants inspecting the building since ESR acquired it in December 2020.

“We are delighted to be welcoming FPA Australia and SPAR Australia as long-term tenants at our Acacia Ridge Business Park and support their expanding footprint in Queensland,” Pearce said.

“We are seeing strong interest in the estate, which we see as a strong vindication of the strategic location of this infill property,” he said.

ESR Australia said the leases reflect a larger trend seen across Brisbane during the first half of 2021, which saw an increasing demand for new facilities and supply chain operators looking to update older facilities.

Related: ESR Australia secures leasing deals with UPS, Pact at $320 Horsley Logistics Park

Family-owned FPA, which has been operating out of Perth since 1989 with warehouses across the country, was looking to expand its current 3,600 sqm tenancy. Through the latest transaction, FPA will be updating to a space of approximately 5,700 sqm of warehouse space, situated at the front of the 18-ha infill site.

Part of SPAR International Group, SPAR Australia’s Managing Director, Lou Jardin, said that the new purpose-built, state-of-the-art distribution centre will facilitate both fresh, chilled, and frozen foods, allowing for future growth of the SPAR business in Australia.

“The new facility at ESR’s Acacia Ridge Business Park will allow SPAR to consolidate our business and operate out of one facility, providing the ability to coordinate the supply of goods to our 200 independent Australian retailers,” Jardin said.

David Knox and Lachlan Hateley from Knight Frank brokered the lease with FPA, while Chris Cash of CBRE negotiated the deal with SPAR.

“The surge in tenant activity levels was illustrated by the fact that ESR received two signed Heads of Agreement on this vacancy in the same week, providing ESR the opportunity to choose the best transaction to proceed with,” Hateley said.

Located in Brisbane, Acacia Ridge Business Park is situated in an arterial road that provides easy access to Brisbane’s major transport links, with the site close to Acacia Ridge Intermodal Terminal and Archerfield Airport, and 13 km from Brisbane CBD.

Source: ESR