Stockland eyes logistics
Thursday, 30 August 2018
Sydney, NSW, Australia
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.