Prime Dandenong South industrial asset changes hands for $10.65 million in off-market sale

A private investor has acquired an industrial facility at 66 Logis Boulevard, Dandenong South for $10.65 million in an off-market sale with the price reflecting a sharp 5.38% yield.

The deal was negotiated by CBRE’s Fraser Pearce, Alex Grima and Patrick Noone.

Mr Pearce said investor appetite for premium logistics assets remained resilient despite broader market recalibration.

“Investors continue to pursue opportunities in core industrial locations, especially when underpinned by blue‑chip occupiers and secure lease structures. This asset offered a compelling combination of strong income, quality improvements and a prime Logis address, which resonated strongly with the buyer,” Mr Pearce added.

The transaction highlights the sustained competition for high‑quality industrial assets across Melbourne’s southeast, particularly within the tightly held Logis Estate, recognised as one of the region’s premier logistics precincts.

This sale follows CBRE’s Industrial & Logistics team securing national occupier Headstart International on favourable lease terms for the property in 2024.

With the property fully leased and offering stable holding income, CBRE’s brokerage team engaged a private investor who was attracted to the strong tenant covenant, robust leasing fundamentals, and the long‑term underlying land value.

Mr Grima added that assets of this calibre rarely transact publicly.

“Quality logistics properties in Melbourne’s southeast remain some of the most hotly contested investments in the market. Even in a shifting capital environment, assets with strong tenant profiles and modern infrastructure continue to achieve tight yields. This sale is a perfect example of that dynamic,” Mr Grima said.