Cape Argus E-dition

Takealot in logistics deal with Fortress

Staff Reporter

JSE-LISTED Fortress real estate investment trust said yesterday it had concluded an agreement with Takealot in terms of which the online retailer takes up 20 000m² of speculative warehousing at Eastport Logistics Park.

Takealot would start operations at the logistics park next month, because the online retailer needed effective distribution in Gauteng as the growth of e-commerce continued at an exponential pace, Fortress said.

Pick n Pay recently announced a partnership with Fortress to develop a new 36-hectare inland distribution centre – one of the largest in Africa – at Eastport Logistics Park.

The increasing demand for e-commerce worldwide bodes well for Fortress’s philosophy of developing secure world-class logistics parks, the property firm said. |

MONEY

en-za

2021-06-25T07:00:00.0000000Z

2021-06-25T07:00:00.0000000Z

http://capeargus.pressreader.com/article/281736977420873

African News Agency