''This is a significant agreement for Mangatawa. By converting our under-utilised land this way, we are able to secure long-term benefits for our shareholders," Haua said.
Mangatawa Papamoa Blocks was a Maori incorporation formed in 1957 and has 800 shareholders with a total landholding of 300ha.
Mainfreight joined Mangatawa's other Truman Lane lessees Tui Products, McLeod Cranes and Stadium Storage.
Braid said the business was growing at such a pace in the Bay that it needed a much bigger facility. At present the company operates from a 1.8ha site at Mount Maunganui.
Goods consigned to Tauranga via trucks, rail and coastal shipping will arrive at the new Te Maunga facility for distribution around the Bay of Plenty. Freight will also be consigned to export markets through the Port of Tauranga.
Work on designing the new freight distribution hub is still with the architects but based on a similar-sized facility in Hamilton, Braid said it could end up costing about $30m.
Solar power will run Mainfreight's building on sunny days while rain captured off the huge roof will be used to wash down trucks or flush toilets.
Braid explained Mainfreight handles the sort of products typically sold at Mitre 10 or Bunnings. ''We are a global logistics business.''
Mainfreight was represented at the signing by company founder and chairman Bruce Plested, while Mangatawa's representatives included operations manager Paula Werohia and kaumatua.
Priority One chief executive Nigel Tutt said Tauranga is an attractive destination for logistics companies like Mainfreight because of the proximity to the port and the Bay's growing consumer markets.
Tauranga's strength is its location in New Zealand's golden triangle of Auckland, Hamilton and Tauranga, he said.
The 11.5ha of industrial land is part Mangatawa's growing investment portfolio. Its partnership in Pacific Coast Retirement Village at Papamoa this week featured Retirement Commissioner Diane Maxwell opening the village's $10million community hub that included a 50-seat movie theatre, restaurant and shops.
Mangatawa also owns 101ha of farm land and has successful kiwifruit and avocado orchards. Last year its eye-catching offices won multiple architectural awards.
Mainfreight's growth over 40 years
- Operates in 252 locations.
- Employs 7500 people in 22 countries.
- Market capitalisation $2.5 billion
