A high quality industrial asset in Coorparoo is exchanging to Centuria Industrial REIT for $12.5 million.
Tenanted until 2028 to Breezway, a subsidiary of New York Stock Exchange listed JELD-WEN, 35 Cambridge Street is trading on a 6.7 per cent net passing yield.
The 6065 square metre facility includes a modernised reception area and office/warehouse.
It occupies an 8949 sqm site with long term development prospects (story continues below).
Coorparoo is four kilometres south east of Brisbane.
Breezway signed an eight year rental agreement prior to Colliers International’s David Brisk and Philip O’Dwyer listing it via an expressions of interest campaign, which closed in June.
Early this month we reported Centuria was buying this property, and two more on Australia’s east coast, as part of a $32.5m spending spree.