Pacific National’s St Mary’s Intermodal Terminal acquired

Cadence Property Group and PGIM Real Estate have purchased Pacific National’s St Mary’s Intermodal Terminal for $145 million.

Following the transfer of ownership, ACFS Port Logistics’ lease on the property has also been renewed for the next 20 years.

The freight and logistics asset was built by Pacific National in 2020, with operations opening for the rail freight transporter in late 2021.

Located approximately 47 kilometres west of Sydney’s CBD with direct rail access to Port Botany as well as other major NSW warehouses and distribution centres, the property covers 10 hectares of a 43-hectare site.

ACFS Port Logistics had been renting this 10-hectare property from Pacific National for four years prior to the acquisition.

The lease renewal also includes an immediate 20,000 square-metre container hardstand expansion to meet growing demand for efficient, scalable and sustainable freight solutions for the region.

ACFS Port Logistics Managing Director and CEO, Arthur Tzaneros, praised the agreement and its role in enabling the company’s plans for growth.

“Thank you to our property partner in Cadence for the acquisition of St Mary’s Intermodal Terminal, securing the future of ACFS for a further 20 years with additional option periods in the heartland of Western Sydney,” he said.

“Immediately we will commence our expansion plans and construction to grow our offering at the St Mary’s Intermodal Sydney.”

The $145 million transaction marks the first collaboration between Cadence Property Group and PGIM Real Estate.

A Cadence Property Group spokesperson said this agreement highlights both businesses’ capabilities in managing complex, infrastructure-aligned industrial investments.

“We’re excited to be partnering with ACFS Port Logistics, one of Australia’s largest privately-owned container logistics operators, in agreeing to a new 20 year lease,” the spokesperson said.

“A big thank you to our partners at PGIM Real Estate and ACFS Port Logistics – we’re looking forward to delivering on the full potential of this asset and unlocking long term value for the region.”

In other news, Border Express has announced the upcoming opening of a new depot.