Fortress REIT lets over 120 000 square meters of state-of-the-art logistics space in Gauteng

Fortress REIT lets over 120 000 square meters of state-of-the-art logistics space in Gauteng

Fortress REIT lets over 120 000 square meters of state-of-the-art logistics space in Gauteng
growing Africa’s future logistics ecosystem

Fortress Logistics Real Estate’s commitment to develop over a million square metres of logistics assets over the next two to three years, effectively transforming the weighting of its portfolio to two thirds big box logistics, came into its own in 2020/2021.

Fortress Logistics Real Estate’s ready-to-let pipeline of Grade A logistics assets in prime urban supply nodes around Gauteng as well as the rest of South Africa, proved exactly appropriate to a wide range of tenants adapting to the impact of Covid-19 and shifting consumer trends.

The strategy equipped South Africa’s largest supplier of logistics real estate with the ready-built runway to “support key clients’ new supply and logistics strategies in response to the Covid-19 pandemic,” said Jason Cooper, Head of Development at Fortress REIT.

In Gauteng, Fortress’s EastPort Logistics Park, close to ORT airport, looks forward to welcoming Teraco’s JB4 data centre. As Africa’s largest data centre, the Teraco development will comprise 50 000 square metres of built space. The Teraco development is also equipped with 80 megawatts of utility power and 38 megawatts of critical power load. Fortress Logistics has also only just finished developing a further 14 000 square metres at EastPort for Clippa Sales.

Another signature Gauteng lease recently concluded by Fortress was with USN. The global sports nutrition leader took up 14 000 square metres of prime warehousing in December 2020 on a ten-year lease at Fortress’s Louwlardia Logistics Park in Centurion. The multifunctional facility is currently supporting the consolidation of USN’s Head Office, manufacturing facility (Globepak) and Distribution Centre. “All three integrated operations are custom-designed to improve customer service and faster market response,” said Cooper.

Fortress Logistics also welcomed two new tenants to Fortress’s LongLake Logistics Park in Linbro Park. In December 2020 Zest Weg took up 25 000 square metres of warehouse space at LongLake. May 2021 will also see Cargo Carriers move into their new 12 000 square metre facility at LongLake.

This phenomenal take up of quality logistics space right through a disrupted period in the commercial property sector “has delivered the lowest vacancies in the history Fortress’s logistics portfolio,” said Cooper. Moreover, ongoing demand points to the enduring appeal of Fortress’s strategy of developing state-of-the-art, accessible and secure logistic parks in the right locations “as we continue to deliver on our strategy to roll out a million square meters of logistics assets by 2023,” concludes Cooper.