"Our acquisition of this site is in line with our strategy to grow our logistics and business parks portfolio and increase our exposure in key locations,” said John Schroder, group executive and CEO commercial property, Stockland
The building, constructed in 2004, comprises a modern warehouse and freight terminal together with a two storey office building with a total gross lettable area (GLA) of 23,081 square metres.
The site is located within the growing industrial precinct of Eastern Creek, which is regarded as one of Sydney's premier locations for transport and logistics facilities due to its excellent access to the M7 and M4 Motorways.
The facility is suitable for a variety of warehousing and distribution operations and is currently leased to DHL
Stockland will acquire the property from McDonald Bros Holdings Pty Limited for in an off market transaction in a transaction brokered by CBRE
Developers Barry and John McDonald paid $23.75 million for the industrial facility in 2009 when they bought it from an Australand fund
