The property arm of Chinese e-commerce giant JD.com, JD Property is set to purchase the 18.2-hectare Wacol Logistics Hub in Brisbane for a total of $240 million.
JD (JINGDONG) is in the process of building its portfolio of global logistics estates, and the completion of the deal will mark its first foray into ownership in Australia’s industrial property market, as it currently leases warehouse space in Western Sydney.
Overall, JD owns almost 100 warehousing sites around the world, including in key markets of the United States, United Kingdom, Japan, Germany, France and the Netherlands.
Recently, it has acquired two GLP Japan warehouses, the LiFung Centre in Hong Kong and five logistics assets in Singapore.
JD’s acquisition of the Wacol site follows the strengthening trend of international investment in Australian industrial real estate.
The Korean-backed Gateway Capital purchased a $330 million logistics estate in Sydney in late February just three months after it was built, while Stockland recently announced Australian logistics partnership deals with US private equity firm KKR and British company M&G Real Estate.
JD announced a key pillar of its international strategy in 2025 would be to dramatically increase its overseas warehouse presence.
It is targeting a 100 per cent increase in international capability and accelerate the launch of warehouses across key global markets, including south-east Asia.
Logos, a company acquired by ESR in 2024, bought the Wacol site from Fletcher Building in 2021.
The site is fully leases and houses blue-chip tenants including Myer, Fantastic Furniture .
ESR recently announced Stage 2 of the Wacol Logistics Hub, occupied by Mayo Hardware and Original Mattress Company, had achieved a 6 Star Green Star Design rating.
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