Chinese e-commerce giant JD.com has bought its first logistics hub in Australia, a sprawling facility of nearly 100,000 square metres in south-west Brisbane, as it pursues an ambition for a global network of warehouses.
The Wacol Logistics Hub was acquired for around $250 million for JD.com through a local investment manager Paloma Property Partners, which manages a diverse portfolio of office, co-living and industrial.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
Campbell Kwan covers retail and consumer goods for The Australian Financial Review, based in the Sydney newsroom. Email Campbell at campbell.kwan@afr.com
