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logistics and industrial property

Growthpoint and Feenstra’s Noka Park sets new standard

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Growthpoint and Feenstra’s Noka Park sets new standard for Grade A logistics and industrial space in Gauteng

 New R700m speculative development responds to rising demand for sustainable, tech-enabled warehouses

Growthpoint Properties (JSE: GRT), in partnership with Feenstra Group, has launched Noka Park, a R700 million logistics and industrial development strategically located in Gauteng’s Riverfields logistics precinct, near OR Tambo International Airport. The park is 50/50 co-owned and co-developed by Growthpoint and Feenstra Group and will be managed by Growthpoint.

Construction begins in October 2025, with four buildings to be delivered in phases. The first warehouse is set for occupation from the final quarter of 2026, with the remainder rolled out on completion.

Noka Park tenants will benefit from direct access to transport and distribution corridors; scalable, future-proofed facilities; a professionally managed precinct; and an environment that integrates business performance with sustainability.

Answering demand in a shifting market

 Noka Park is a speculative development designed to meet strong and evolving tenant demand.

“The South African logistics market is currently being reshaped by a ‘flight to quality’ with tenants prioritising high-grade, sustainable and technologically enabled warehouses over more basic facilities,” says Errol Taylor, Head of Asset Management: Logistics & Industrial at Growthpoint Properties.

This trend reflects broader global shifts. Industrial occupiers are increasingly prioritising technology adoption, integrating IoT, AI and automation to streamline warehouse operations and enhance supply chain efficiency. At the same time, sustainability and ESG alignment have moved to the forefront, with tenants seeking energy-efficient buildings that are solar-ready, water-wise and aligned with green certification standards. Even with the recent suspension of load-shedding, energy security remains critical driving demand for logistics parks with reliable power infrastructure and backup systems. Flexibility is equally essential, as the market shows growing interest in mid-sized warehouses ranging from 10,000m² to 30,000m². This makes scalable, adaptable land parcels, like those offered within Noka Park, a significant competitive advantage.

“Noka Park speaks directly to these market dynamics,” notes Taylor. “This development with Feenstra Group demonstrates how considered partnerships and strategic site selection can deliver superior value for tenants. It provides immediate efficiency and resilience, but also long-term sustainability for tenants. We are confident that Noka Park will meet and exceed these requirements.”

Expanding a high-performing logistics portfolio

Growthpoint has steadily repositioned its logistics and industrial portfolio as one of its key growth platforms. Logistics and industrial assets have grown from 15% to 20% of its total South African portfolio value, with nearly half of these assets now concentrated in modern logistics warehouses located in high-performing nodes.

This portfolio transformation reflects a deliberate strategy to focus on quality, performance and sustainability, Taylor says, and this is set to continue with a pipeline of demand-driven speculative developments like Noka Park.

Future-ready facilities for modern industry

 With its combination of prime location, modern specifications and environmental integration, Noka Park is designed for a diverse tenant base ranging from e-commerce companies to international logistics operators and warehousing.

“Working alongside Growthpoint on Noka Park has allowed us to combine our strengths to develop this high-quality logistics asset,” says Johann du Plessis, CEO of Feenstra Group Developments. “From the outset, the focus has been on future-proofing the development through sustainable design, adaptability and efficiency. The result is a logistics park that not only serves the needs of tenants today but will remain relevant as this innovative sector evolves.”

Prime location in a strategic logistics hub

 Noka Park is strategically located within the Riverfields logistics hub in Kempton Park, a managed precinct known for its scale, smart infrastructure, and seamless connectivity. Reflecting its location, Noka means “river” in Sesotho.

Situated at the corner of Mulder Road and Blaauwklippen Avenue, the development offers easy access to the R21 freeway and lies only 3km from OR Tambo International Airport, positioning it as a prime node for both national and international distribution. Its proximity to key logistics and commercial assets, including major warehousing, industrial and retail nodes, including Isando, Jet Park and East Rand Mall all within 10kms, reinforces its role as a central access point within Gauteng’s high-performance logistics corridor.

The Riverfields precinct is also notable for its environmental setting within the Ekurhuleni ecological zone, where preserved grasslands, seasonal streams and indigenous landscaping form part of the development, underscoring its environmental credentials.

 Scale and specifications

Noka Park spans 105,000sqm and will deliver over 52,000sqm of high-performance industrial space across four state-of-the-art warehouses designed to accommodate high-volume warehousing, racking, and fast-moving logistics operations. Warehouse footprints range from mid-sized to large-scale facilities, offering flexibility to both blue-chip tenants and growing industrial operators.

Each warehouse is equipped with FM2-specification floors, 12m clear spring height and both dock and on-grade access to support efficient movement of goods, enhanced by built-in offices, with staff areas and ablutions.

Solar-ready roofing, LED lighting and generator-ready infrastructure reflect a focus on operational resilience and energy efficiency. Additional features such as low-e performance glazing further enhance sustainability and thermal performance.

Safety and security are reinforced through fire protection systems, a secure gatehouse with access control, a 2.4m perimeter wall and electric fencing.

“By combining scale, flexibility and modern specifications, Noka Park sets a new benchmark for industrial and light manufacturing facilities in Gauteng,” concludes Taylor.

Dipula announces R700 million in strategic acquisitions

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Dipula announces R700 million in strategic acquisitions, headlined by Soweto’s Protea Gardens Mall 

Dipula Properties (JSE: DIB) today announced five strategic acquisitions totalling approximately R700 million, underscoring its commitment to long-term value creation. Foremost among them is the R480 million acquisition of Protea Gardens Mall in Soweto.

Dipula is a prominent South Africa-focused REIT with a defensive portfolio, and more than two-thirds of its income derived from retail centres in townships, rural areas, and urban convenience nodes.

With these acquisitions Dipula continues its portfolio growth strategy, focused primarily on retail, industrial and logistics assets.

Izak Petersen, CEO of Dipula Properties, describes the acquisitions as “an agile response to improving market conditions and a more favourable cost of capital environment”.

Protea Gardens Mall, Soweto

Protea Gardens Mall is a 24,000sqm community shopping centre located in the densely populated area of Protea Soweto. Anchored by leading national retailers including Shoprite, Boxer, and Cashbuild, alongside top-tier fashion brands, the mall boasts over 70% national tenant occupancy, representing both retail strength and income durability.

“Protea Gardens Mall is an excellent strategic fit for Dipula with embedded growth and value unlock potential, underpinned by quality tenants and a growing consumer market,” confirms Petersen.

The acquisition supports Dipula strategic objective to grow its exposure to its targeted retail markets. It also reinforces the company’s commitment to community upliftment through accessible, everyday shopping experiences.

Additional retail expansion

Dipula also announced it has concluded terms for two retail additions that will deepen its presence in key and proven markets.

Woolworths Gezina is adjacent to the Dipula’s highly successful Gezina Galleries. This 4,600sqm addition will be incorporated into the existing centre. The expansion enhances the overall tenant mix and brings the centre’s gross lettable area to around 20,000sqm.

The company has also agreed to acquire land adjacent to the 15,000sqm Tower Mall in Jouberton. This acquisition unlocks future expansion potential for the strongly performing shopping centre.

Industrial growth aligned to strategy

Complementing its retail momentum, Dipula concluded terms for two properties that further cement its core focus on logistics and industrial assets.

Airborne Industrial Park, located near OR Tambo International Airport and adjacent to the N12 highway, is a fully let multi-tenanted park of 6,964sqm. Abland DC, is a modern logistics development spanning more than 16,000sqm, anchored by a strong tenant covenant on a long lease.

“Both these assets have excellent tenant profiles, and are well aligned with our approach to capital allocation in the industrial sector, which is a core part of our strategy,” adds Petersen

Accretive effects

All the income-earning properties are both income and quality enhancing for Dipula’s portfolio. The deals are subject to standard conditions precedent. Transfers are expected to take place between September and November 2025.

Growthpoint completes Phase 2 of the Arterial Industrial Estate.

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Growthpoint’s Logistics Portfolio is Bolstered by Completion of Arterial Industrial Estate, Cape Town 

Growthpoint Properties (JSE: GRT) has reached another milestone in its ongoing strategy to improve the quality of its directly held South African portfolio with the completion of Phase 2 of the Arterial Industrial Estate in Cape Town.

Driving its domestic portfolio enhancement, Growthpoint has strategically grown its logistics and industrial assets from 15% to 20% of the total SA portfolio value in recent years.

At the same time, South Africa’s leading REIT (real estate investment trust) has increased its exposure to modern logistics warehouses, the backbone of Growthpoint’s long-term value creation approach in this sector. Modern logistics properties are and now represent approximately half of the portfolio’s gross lettable area. It is also focusing its investment in better performing, higher demand areas of the country, specifically in the Western Cape and KwaZulu-Natal.

A notable stride in this direction is the recent completion of Phase 2 of the Arterial Industrial Estate in Cape Town, adding quality capacity to the sought-after location. With 21,831sqm of additional lettable space, Phase 2 has added six more warehouse units, ranging from 2,945 square meters to 5,713 square meters, catering to a variety of business needs. Together, both phases of the development represents a nearly R400 million investment from Growthpoint.

The estate is experiencing strong demand, with two of the six units in Phase 2 already snapped up supported by strong tenant interest, highlighting the need for high-quality industrial space in the region. Phase 1 of Arterial Industrial Estate, spanning 19,741 square meters is fully let to top names in national and international industry.

“The completion of Arterial Industrial Estate’s Phase 2, and the good demand and take-up of available space it is experiencing, underscores the value we provide to businesses seeking efficient and sustainable industrial real estate solutions,” says Wouter de Vos, Growthpoint’s Regional Head: Western Cape.

“Growthpoint is reporting strong performance in its logistics and industrial portfolio, fuelled by high occupancy rates and a strategic focus on modern facilities. Our well-let logistics and industrial portfolio demonstrates the increasing demand for modern, strategically located facilities,” says Errol Taylor, Growthpoint’s Head of Asset Management, Logistics and Industrial Property.

Arterial Industrial Estate is strategically positioned in Blackheath, a popular industrial hub in Cape Town, offering exceptional access to key transportation routes, including the R300, N1, and N2 highways, as well as Cape Town International Airport and the region’s seaports. This prime location allows businesses to efficiently connect with both local and global markets.

The estate offers 24-hour security, flexible warehouse and office space, and a commitment to sustainability, including solar panels and a four-star Green Star certification from the Green Building Council of South Africa.

“This project reflects a continued and deliberate pivot toward better-performing, future-fit logistics assets and aligns with Growthpoint’s strategy of targeted investment and divestment, and development,” adds Taylor.

Growthpoint and Serra® set a new benchmark 6-Star Green rating

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Growthpoint and Serra® set a new benchmark for logistics and industrial properties with 6-Star Green rating

In an environmentally innovative achievement, the Serra® facility, owned by Growthpoint Properties (JSE: GRT), has become South Africa’s first industrial property to earn a prestigious 6-Star Green Star Existing Building Performance (EBP) rating from the Green Building Council South Africa (GBCSA), setting a new benchmark for logistics and industrial properties.

Located in Meadowbrook, Germiston, the 7,400sqm light manufacturing facility has consistently been an example of a strong commitment to leading green building standards. In 2020, it was awarded a 5-Star Green Star EBP rating, marking the first time an industrial building in Gauteng had achieved this certification.

The new 6-star rating recognises an ongoing sustainability journey. Underpinning the achievement are Growthpoint’s 15 years of recognised green building leadership and Serra®’s 40 years of experience in the commercial washroom industry, resulting in a deep focus on water efficiency and conservation at the property. This powerful partnership also earned the building the 2024 GBCSA Leadership Awards for theHighest Rated Building (EBP), with accredited professional Danika Taylor of Imbue Sustainability also playing a key role in achieving this milestone certification.

The building boasts several cutting-edge features that contribute to its impressive green credentials. The entire facility is 100% off the grid. It features solar PV energy generation and waste management, including recycling.

Yet it shines brightest in its positive impact on water resilience – the heart of sustainability. The property features substantial rainwater harvesting, including a petrol/oil separation system for water recycling, a water purification plant, and an underground water reservoir about the size of an Olympic swimming pool. This is particularly significant given the current water scarcity concerns in South Africa, especially the diminishing water security in the Gauteng region.

The alignment between Growthpoint and Serra® in their environmental commitments makes this property a standout example of cooperation between a property owner and occupier, especially when both are leaders in environmentally sustainable practices in their respective sectors.

Growthpoint’s goal is to be carbon neutral by 2050. Its progress includes 123 current green building certifications and securing access to a rapidly growing reliable mix of renewable energy sources – electricity from water, on-site and remote solar, and wind – for tenants to access through its e-co2 benefit scheme, being the first of its kind in South Africa. Thanks to a PPA with Etana Energy, Growthpoint will begin wheeling 195 GWh/y of renewable energy to select buildings starting from July 2025, which represents 32% of its total electricity consumption and demonstrates its commitment to innovative, scalable energy management.

These and other sustainable business practices not only move Growthpoint closer to its ESG (Environmental, Social, and Governance) targets but also help tenant businesses towards their own ESG goals.

As a proudly South African family-run business with a strong passion for ESG principles, Serra® is wholly invested in sustainable green practices and has voluntarily pursued rigorous sustainability certifications. This goes well beyond its manufacturing and showroom facility. Serra® has made substantial investments in developing sustainable products and practices. For instance, it supplies floor covering and mats from recycled fishing lines recovered from the ocean. It is aiming for Net Zero emissions.

Paul Thomaz, CEO of the Serra® Group (Pty) Ltd, comments, “Our business is dedicated to creating a positive impact on the environment and communities we serve. Working with Growthpoint to achieve the 6 Star Green Star reinforces our long-term vision of minimising harm and promoting sustainable practices throughout our operations and product offerings.”

The Serra® building’s 6 Star Green Star EB rating sets a new benchmark for logistics and industrial properties in South Africa. It continues Growthpoint’s pioneering approach to green logistics and industrial buildings in South Africa. The company jointly developed the GBCSA’s certification tool for industrial facilities in a progressive move that enabled more building types to be certified green. It was also awarded South Africa’s first-ever Green Star SA rating for industrial property, for Greenfield Industrial Estate in Cape Town.

Errol Taylor, Growthpoint’s Head of Asset Management: Logistics & Industrial Property, says, “Growthpoint is committed to providing relevant spaces that support occupants while addressing key global and local efforts in response to environmental concerns. We are incredibly proud of this achievement and the strong partnership with Serra® that has made it possible.”

The environmental commitment of both businesses is being put into action in other ways too.

As a leading hygiene services provider and washroom accessory manufacturer, Serra®’s commitment to environmental responsibility extends to its service agreements, and the company currently services around 90 of Growthpoint’s Johannesburg buildings. This not only benefits Growthpoint as the owner but also enhances the experience of the tenants.

The 6-Star Green Star rating for the Serra® building underscores the growing importance of certified green credentials. As businesses increasingly prioritise ESG considerations, buildings that can demonstrate exceptional operational performance are increasingly attractive to tenants and investors.

For Growthpoint, the Serra® building’s new rating is a testament to the value and impact of its green initiatives. The company continues to explore and collaborate on opportunities to enhance the sustainability of its portfolio, creating properties that benefit both the environment and those who occupy them.

For Serra®, its manufacturing and showroom facilities serve as a living inspiration for environmental sustainability, and it welcomes designers, facility managers, property developers and built environment professionals to visit the property to encourage greater green building excellence.

Growthpoint unveils second phase at Arterial Industrial Estate 

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Growthpoint unveils second development phase for Cape Town’s Arterial Industrial Estate 

85% of the first phase is already let with keen demand for this prime location

Construction of the new Arterial Industrial Estate in Cape Town is steaming ahead, with Growthpoint Properties (JSE: GRT) having moved into phase two of the world-class development.

Arterial Industrial Estate is a development by Growthpoint on a 71,656sqm site in the heart of Blackheath, a growing and modernising industrial node in Cape Town.

After phenomenal success with phase one, during which national and international tenants snapped up 85% of available space, Growthpoint has launched phase two of the Arterial Industrial Estate development.

Growthpoint’s decision is in response to growing demand for space — as seen in four out of five industrial units released in the first phase of the new development, which commenced construction in July 2023 and was completed in April 2024, already being taken up by tenants. Only a single unit of 3,503sqm, perfect for light industrial businesses, remains in the phase.

The first phase of Arterial Industrial Estate spans 19,741sqm, originally featuring six warehouse units, each with a two-storey office block. Jotun, a leading decorative paints and coatings manufacturer, was among the first to secure space at Arterial Industrial Estate, opting to combine two units for its new and larger head office premises of 5,713sqm. Other tenants with facilities at Arterial Industrial Estate include well-known logistics companies Nexus Fulfilment and RTT, as well as leading tyre distributor ATT Auto Truck & Tyres.

Growthpoint has started phase two of construction, which will add 21,840sqm of lettable space, more than doubling the size of Arterial Industrial Estate. This second phase will add a further six warehouse units, ranging from 2,945sqm to 5,713sqm, enhancing the estate’s capacity to cater to diverse business needs. Arterial Industrial Estate Phase Two will be ready for occupation from March 2025.

Timothy Irvine, Growthpoint’s National Client Experience and Western Cape Asset Manager, says the new phase of the development is already seeing great interest from potential tenants. “The demand for space at Arterial Industrial Estate is unsurprising, considering the development’s central and attractive location and the steady demand for industrial space currently being experienced in Cape Town.”

Arterial Industrial Estate is close to Cape Town International Airport, public transport nodes, and arterial routes important for South Africa’s economic activity. The estate is close to the R300, N1, and N2, with prominent visibility along the Stellenbosch Arterial Road highlighting its effortless link to the winelands.

Irvine says Arterial Industrial Estate’s proximity to arterial roads, and the country’s air and sea ports network, makes it a sought-after physical address in Cape Town. “Businesses situated at this prime location can efficiently connect with both local and global markets.”

Growthpoint’s experience in logistics and industrial property investment and development enhances the experience for existing and would-be tenants at Arterial Industrial Estate. The estate boasts 24-hour security and access control, flexibly sized warehouse and office space, and measures for efficient water and energy use. Phase one of the Arterial Industrial Estate has seen the installation of solar panels, which is set to help tenants secure sustainable energy.

The estate has achieved a 4-Star Green Star certification in the industrial property category from the Green Building Council of South Africa. This is aligned with Growthpoint’s goal of making its vast portfolio of properties environmentally sustainable. Growthpoint’s climate commitment target is being carbon neutral by 2050. Its sustainable business practices help tenant businesses towards their own ESG goals and support long-term cost savings for its clients.