- 64.4 ha premium industrial estate with an end value of approximately $900 million
- First speculative development underway, with completion targeted for October 2026
ESR Australia & NZ and Frasers Property Industrial have officially launched their joint venture industrial estate RISE, with a ceremony held at 635 Hall Road, Cranbourne West. This launch represents a significant milestone for Melbourne’s southeast industrial sector, bringing forward a new supply of modern, sustainable industrial space in one of Australia’s most supply-constrained locations. Attending the event was Casey Council Mayor Stefan Koomen, project partners, and key industry representatives.
Spanning 64.4 hectares with an estimated end value of approximately $900 million, RISE will deliver a mix of high-quality industrial facilities and small lot subdivisions, designed to meet the needs of logistics, e-commerce, manufacturing, and distribution occupiers.
Andrew Hanna, General Manager Victoria at Frasers Property Industrial, said: “RISE reflects the continued demand we are seeing on the ground across Victoria, particularly in Melbourne’s southeast where supply remains constrained and customers are looking for well-located, high-quality space.
We are seeing expectations shift, with greater focus on building functionality, access to power and the overall quality of the estate. RISE has been designed to respond to those needs, providing flexibility for a range of occupiers while maintaining a consistent standard across the precinct.
Our partnership with ESR allows us to bring this project to market with confidence, combining strong local delivery capability with a shared focus on quality and execution.”
Simon Sayers, Head of Development at ESR Australia & NZ, said “RISE is a strong example of what can be achieved through partnership, bringing together local expertise with deep experience in delivering large-scale logistics and industrial developments.
We are proud to continue building ESR’s presence in Melbourne’s southeast. At our nearby Greenlink estate, we’ve already attracted a strong mix of global and local customers leveraging the strength of this location, which gives us real confidence in what RISE can become.
Together, we are focused on delivering well-located, sustainable and highly functional space that supports evolving customer needs, while contributing to the long-term growth of one of Victoria’s most important industrial corridors.”
Mayor Stefan Koomen, Casey Council, said: “RISE represents an important investment in the future of Cranbourne West and the broader City of Casey, supporting local jobs, business growth and long-term economic development in one of Victoria’s fastest-growing regions.
“With our local population expected to grow by almost 40 per cent over the next 20 years, indusrial precincts like this are critical in ensuring our community has access to employment opportunities close to home.
“We’re proud to support projects like RISE that bring real, long-term benefits to our community and strengthen Casey’s position as a key industrial hub in Melbourne’s southeast.”
Infrastructure works across the estate are progressing. Construction is underway on Lot 401, the estate’s first speculative building, and is expected to complete in October 2026. Lot 401 will comprise four tenancies providing flexibility for a range of occupiers.
RISE benefits from direct access to major transport networks including the Western Port Highway, South Gippsland Freeway and EastLink, as well as proximity to the future Dandenong South Inland Port.
With a combined track record of delivering more than 320 hectares of industrial estates in Melbourne’s southeast, Frasers Property Industrial and ESR Australia bring significant capability in delivering large-scale, high-quality logistics developments.
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