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Trane New Zealand establishes presence on Mahunga Drive within Jasper portfolio

Jasper, the specialist commercial real estate investment and asset manager, has successfully negotiated and executed a new 5-year lease to Trane Thermo King Pty Ltd (Trane NZ) across a 1,700 sqm facility at our Mahunga Drive asset.

Established in 1885, Trane is a world leader and climate innovation company focused on developing sustainable heating, cooling and ventilation solutions for industrial and commercial applications. Thermo King, established in 1940, focuses on sustainable transport and container refrigeration solutions. Both Trane and Thermo King are strategic brands for Trane Technologies.

Jasper successfully executed a 5-year lease to Trane NZ across a 1,700 sqm facility at 49 Mahunga Drive, located within the growing industrial precinct of Māngere Bridge. The location was key for Trane NZ as the site offers excellent motorway access to Auckland International Airport and the CBD.

Jasper worked closely with Trane NZ to reconfigure the facility, adding warehouse space to suit their needs. The site will be used as the headquarters for Trane NZ to support its sales, service and training operations.

Jasper was pleased to work alongside Alex Divers and Henry Smit from CBRE, who were instrumental in securing Trane NZ at Mahunga Drive.

Vernon Sequeira, from Jasper’s Investment Management team, commented, “We are proud to continue expanding the number of market-leading businesses in our portfolio. We wish Trane NZ all success at Mahunga Drive and look forward to working closely with them in the future. Jasper continues to see robust leasing transactional activity for well-appointed space in close proximity to the motorway network.”

About Jasper: Jasper is a specialist commercial real estate investment and asset manager, representing global institutions and investors throughout New Zealand and Australia. Jasper provides investors access to real estate strategies across Australasia.Since 2019, Jasper has acquired over $360M in assets and currently manages an annual rent roll of over $18M.

Vernon Sequeira - Jasper

Vernon Sequeira

Investment Manager

Posted on 12 Jun 2024

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Important Disclosures

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