Hale flips Brisbane industrial asset after 14 months
Hale Capital has sold a Brisbane industrial investment 14 months after buying it from Dexus.
At Acacia Ridge, 30 Bellrick Street traded for $42.7 million, a 4.6 per cent net passing yield.
Hale paid 30.2m.
The four-building estate contains 17,231 square metres.
Tenants include Xpress Freight Management and Excel Logistics (continus below).
Hale bought the property from Dexus as part of a broader strategy to acquire industrial assets where it saw a gap between replacement cost and market pricing.
JLL’s Shaun Canniffe and Joel Scully brokered the on sale.
Acacia Ridge is about 15 kilometres south of the CBD.
Subscribe to our newsletter at the bottom of this page.
