Arrow splits, sells Brisbane industrial asset
Arrow Capital Partners has ended in the black selling a Brisbane industrial asset held three years.
After paying $32.12 million for 165-179 South Pine Road, Brendale (pictured, top), the fund manager is selling it as two, reaping $33.375m from expanding local occupiers.
ATS Building Products is buying the most prominent, spreading 3.1 hectares at the corner of Linkfield Rd.
A headquarters and warehouse is expected for the Mixed Industry Business zoned block, now known as Lot 2/167-179 South Pine Rd.
The second property – Lot 1 – covering 1.9ha, contains a modern 5578 square metre office/warehouse with less than a year left to run on a lease (story continues below).
Cushman & Wakefield’s Mitch Taulelei and Morgan Ruig with Modus Property Group’s Nick Bandiera and Jack Pershouse were the agents; lot 1 traded off-market.
“These transactions highlight the continued depth of demand from owner-occupiers in the market, with the limited supply of purchasing opportunities compelling occupiers to adopt a longer-term view on occupation,” Mr Bandiera said.
Brendale is about 20 kilometres north of Brisbane’s CBD.
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