Stockland's Macquarie Technology Centre development
Property developer Stockland will be investing in logistics projects to tap into the rise in online shopping and e-commerce.The Sydney Morning Herald
reports that Stockland's move will be boosted by a strategic agreement venture with National Storage REIT to look at mixed-use and storage opportunities across both of their portfolios. Stockland has a logistics development pipeline of $600 million in the next five years.
To facilitate the shift in direction, Stockland has undertaken a management shake-up, installing Louise Mason from AMP Capital to run the commercial property division, which encompasses the newly formed workplace and logistics sector, and Andrew Whitson now runs a merged retirement and residential business.