Hines has acquired two logistics warehouses from Dexus Industria REIT, a listed Australian REIT.
Located at 16-28 Quarry Road in Stapylton, Queensland, the 40,983-square-meter (441,137-square-foot) asset comprises two modern, highly functional logistics buildings and is now 100 per cent leased to three major tenants. The clear-span warehouses offer quick access to the M1 motorway, providing great connectivity between Brisbane, Gold Coast, and regional Queensland.
P Hines has also simultaneously entered into a 15-year lease agreement for part of the property with PWR Performance Products Pty Ltd (PWR), a Gold Coast-based provider of high-tech cooling solutions, to commence in July 2025.
WR plans to invest A$21.9 million ($14.4 million) in facility upgrades and new equipment over three years to increase its production capacity by 114 per cent and add up to 488 new jobs over the next 10 years. PWR also has been successful in receiving a government grant from the In
