Logistics property developer, Africa Logistics Properties (ALP) has said that it will complete Phase One of its ALP West project located in Tilisi Industrial Park before the end of the year.
The 10-acre project which is currently under construction is designed to attract businesses operating in the small and medium enterprises segment seeking modern office and warehouse facilities.
CEO Richard Hough said the development, known as The Courtyard, will cover an area of 86,100squre feet and will be available for lease starting at a minimum space of 5,300 square feet (500sqm).
“This is a small to medium enterprises (SME’s) park that gives small but growing light industries an affordable modern facility. Phase Two will comprise quality international standard grade-A warehouse facilities similar to completed warehouses within ALP in Ruiru that measure 215,200 square feet,” said
He said a multinational third-party logistics provider has already shown interest for approximately 538,100sqft (5,000sqm) in the second phase of ALP-West (Tilisi) which will take up 39-acres of land.
ALP has raised a total of US$86.5million in debt ($26.5m) and equity ($60m), to construct modern grade- A warehouse facilities in the Eastern African region.
The firm is currently seeking to partner with local, regional and international companies, in the Eastern African region to either develop or upgrade their warehouses and factories on their behalf, through sale and leaseback options or through pre-determined lease agreements.
“ALP aims to continue modernizing and improving the quality of the warehouse landscape in Kenya and the rest of the Eastern African Region to ensure companies process, manufacture and/or store their products and produce more, operate efficiently, and securely,” Mr. Hough said.