Fortress reports that vacancy rates in their South African logistics portfolio remain at a historic low of 0.3%. “Since 30 June 2025, we have completed 55,231m² of new logistics developments, with a further 76,550m² currently under construction. Pre-letting activity remains robust,” said Steven Brown, CEO of Fortress Real Estate Investments Limited.
The Fortress Retail portfolio continues to perform well, achieving like-for-like tenant turnover growth of 3.9% and sustaining a low vacancy of 0.6%. This resilience reflects the ongoing success of asset management initiatives and the positive impact of recently refurbished and expanded centres.
Fortress’s capital recycling strategy, enhancing core assets while disposing of underperforming properties, continues to deliver tangible benefits. These funds have been reinvested into new logistics developments, strategic retail upgrades, and extensions. At the date of this update, assets with a combined book value of R159 million are classified as held for sale.
South African logistics and logistics developments portfolio updates:
Vacancies: Improved further to 0.3% at 31 October 2025 from 0.4% at 30 June 2025. This low vacancy level reflects continued demand for newly completed developments, effective asset management across the existing portfolio, and the enhanced overall quality of our logistics platform following the successful disposal of higher-vacancy non-core assets.
Eastport Logistics Park: Construction of the 20,840m² warehouse for Crusader Logistics was completed on schedule in August 2025. Crusader Logistics, an existing tenant at Eastport, is expanding within the park and has signed a five-year lease, with an option, in favour of Fortress, to extend for a further five years. This lease commenced on 1 September 2025. Construction of the 30,296 m² warehouse for Liquor Runners was completed on schedule, with the tenant taking beneficial occupation in October 2025. Demand for space at Eastport is encouraging, and construction of the 12,996 m² speculative warehouse will be completed in December 2025. This warehouse has been let to an existing tenant in the park, Teralco Logistics, on a three-year lease. Teralco Logistics will vacate their current warehouse of 22,095 m² in the park, which is now actively marketed, with encouraging interest from prospective tenants. Following these completed developments, a further 30,000m² of GLA is available for development at Eastport. In addition, Fortress retains the option to expand north of Eastport, a site on which it can develop an additional 150,000 m². Additionally, Fortress has recently commenced discussions on a site south of Eastport on which approximately 90,000m² of GLA can be developed.
Longlake Logistics Park: Fortress has concluded a lease for the development of a new warehouse measuring 24,507m² with Suzuki. Construction of this warehouse commenced in July 2025, with beneficial occupation planned for July 2026. The first warehouse at Longlake, measuring 19,099m² and previously leased to Liquor Runners, has been let to Overnight Logistics. Demand for space at Longlake is promising, and the construction of the 18,982m² speculative warehouse is on schedule for completion in October 2026. Once these developments are complete, Longlake will be fully developed.
Clairwood Logistics Park: Discussions are ongoing with a potential tenant for the final site, Pocket 6. Fortress expects to finalise a lease for a 30,000m² warehouse during the 2026 calendar year. Post the construction and letting of Pocket 6, Clairwood will comprise approximately 300,000 m² of fully let premium logistics space within a secure, well-located park environment.
