PROVEN REIT Limited (PREIT), in expanding its offerings, has joined forces with SAJE Logistics Infrastructure Limited (SAJE) in inking a deal to commence the construction of a state-of-the-art warehouse complex in Kingston that will soon serve Jamaica’s growing logistics sector. 

The four-acre development, dubbed the Kingston Gateway Warehouse Complex, will be the first time that PREIT is venturing into the logistics segment of the market and is intended to fill gaps created by the coronavirus (COVID-19) pandemic.

Under the deal to extract more value from the shipping industry, PREIT and SAJE will construct a 112,000 square-foot property of modernly designed, rentable warehouse space.

To be built on what currently exists as 221-223 Marcus Garvey Drive, the gateway warehouse will be conveniently positioned between downtown Kingston and Newport West with easy access from Spanish Town Road and the Portmore Toll Road.

On completion, the development will represent a US$13 million investment.

“We are looking forward to this development, PREIT’s mandate has always been to develop and provide access to both residential and commercial solutions across the Caribbean. We are glad that we could kick off our entrance into the logistics sector in Jamaica,” shared CEO of PREIT Aisha Campbell.

The property has access roads into Newport West making it the perfect location for businesses that use Port Bustamante, in addition to being close to both the Kingston metropolitan area as well as three major terminal hubs, Kingston Wharves Limited, Kingston Freeport Terminal Limited, and Tinson Pen Aerodrome.

This location will facilitate the organisation of work and optimize the product supply chain for businesses.

Trevor Riley, Group CEO of SAJE said, “SAJE made a strategic decision to locate its business as a provider of modern infrastructure for the logistics sector. We have bet on the future of this industry, by leveraging our vast logistics experience to support Jamaica’s increasing importance to the global supply chain.”

“We are very happy to be partnering with PREIT in this our first venture together and look forward to working with their dynamic team. I see tremendous opportunity in this partnership and will be happy to learn from PREIT as well as share our experience in this sector,” Riley added.

Proven REIT, which focuses on residential and commercial real estate locally and internationally, has US$55 million in assets under its portfolio, which includes 109,000 sq feet of fully occupied commercial property.

It is anticipated that the Kingston Gateway Warehouse Complex, which will comprise 21 units, will not just be a great addition to their development portfolio but will allow for business to capitalize on reduced operating costs, delivery times, and overall streamlining of operations that will continue to add value to the lives of Jamaicans in an effort to rebuild the economy.