Press Release

XL Express upsizes to larger Somerton warehouse

Melbourne

April 3, 2024

Media Contact

Imogen Braddock

Senior Communications Specialist, Australia

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Transport and third-party logistics giant, XL Express', business expansion has seen the national operator upsize its VIC operations to a larger industrial facility at 24 Stanley Drive, Somerton.

CBRE’s Daniel Eramo and Joe Brzezek facilitated XL Express’ 11-year lease across 24,349 sqm from Centuria Industrial REIT (ASX: CIP).

The property consists of three modern distribution facilities with substantially high clearances and associated office accommodation. The buildings are connected by a 5,069sqm central breezeway, undercover high areas with cross docking and on-grade parking.

“Centuria will experience limited down time on the asset as the property has been committed well before the existing tenants' lease expires,” Mr Eramo said.

“The facility perfectly matches XL Express' requirements, catering to the transport and rapidly growing 3PL sides of their business.”

Jesse Curtis, CIP Fund Manager and Centuria’s Head of Industrial added, “We warmly welcome XL Express to its new Somerton home and look forward to a long-term relationship. Demand in Melbourne’s North has been strong with the industrial precinct attracting national and international operators given its proximity to major road arterials and access to over 970,000 households within a 60-minute drive.”

Somerton is a recently established industrial area, 150m west of the Hume Highway intersection and 18km north of the Melbourne CBD.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.