Two large industrial leases concluded by JHI Properties

Evidence of the ongoing demand for large industrial space is a 10 year lease for a site of 13 550 sqm in the new ‘Twenty One’ industrial estate in Olifantsfontein, Gauteng, in a transaction concluded by JHI Properties investment broker David Reid on behalf of All Joy Foods.

The value of the lease is approximately R60 million.

“The buildings being built for All Joy Foods will comprise a factory/warehouse of 7070 sqm with a food processing and distribution facility, plus management and administration offices and spacious yard,” says Reid, who was also instrumental in the recent sale of All Joy’s existing premises in Crown Mines.

“Working with All Joy over the past year, several opportunities were considered before the new development, Twenty One, was selected. This site is ideal because it is within easy reach of the company’s main customers which include distribution centres for Shoprite in Louwlardia, Pick n Pay in Longmeadow, SPAR in Jet Park and All Joy’s major supplier in Isando.  With highway visibility it is particularly well positioned for easy access to the Albertina Sisulu Highway (R21) and the N1. Construction is already underway with All Joy’s occupation scheduled for 15 December this year (2012),” says Reid.

Located only 18km from OR Tambo International Airport, Twenty One is situated at the Olifantsfontein interchange which provides immediate access to the popular industrial areas of Olifansfontein and Clayville, as well as the northern reaches of Thembisa townships, one of the largest formal residential areas on the outskirts of Johannesburg.

Reid has also just concluded a five year lease for 11 500sqm of warehousing space for Pioneer Foods Sasko division, which has taken up an industrial property formerly utilised by Amalgamated Beverage Industries in Benrose. “Well situated just a kilometre from the Benrose offramp from the M2, the premises will be utilised for distribution purposes.

“The trend towards the demand for new industrial space from 3 000 up to 20 000 sqm continues. The demand is predominantly for logistical uses such as warehousing, packing and distribution. This tendency is especially evident on the East Rand, with the significant opening up of new development nodes to the north of OR Tambo and the ever popular Jet Park, Meadowdale, Longmeadow, Linbro Park stretch – where there is an increasing demand due to good proximity to major routes such as the R21, R24, N12 and N3,” adds Reid.

“We are currently dealing with a number of enquiries for large industrial space and have available stock on the market to lease or to acquire,” he says.

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