Jasper acquires premium Penrose asset
Jasper, a technology-led fund manager, has completed the purchase of 121 Hugo Johnston Drive in Penrose. The acquisition is the latest addition to its rapidly growing industrial fund targeting value-add logistics and industrial investments across the greater Auckland region. Jasper has now closed over $250m in industrial acquisitions in the last six months.
Penrose is one of the closest industrial precincts to Auckland CBD and continues to be one of the best performing locations within Auckland, where increased demand from tenants and investors exceeds supply. This prime logistics asset comprises high stud warehousing across approximately 12,000 sqm, with quality office accommodation in a Heavy Industry zone.
Simon Felton, Head of Acquisitions at Jasper, commented, "Geographically, Penrose is incredibly important in Auckland’s logistics network - close to motorway connections and the CBD, this location is ideally positioned to rapidly and efficiently service Central Auckland suburbs. From a property perspective, the building is a modern, high stud logistics facility supported by ample car parking. The combination of both these factors makes 121 Hugo Johnston Drive standout as a valuable addition to our portfolio."