Russo buys Brisbane large format retail investment
Russo Investments has quietly bought a large format retail asset, in Brisbane’s north.
The 7271 square metre Virginia holding, 2043 Sandgate Road, in the heart of a homemaker strip, set it back $16.2 million.
A refurbishment is planned for a 1928 sqm component occupied by Nick Scali Furniture.
Proposed upgrades include new air conditioning, a revamped façade and building improvements.
This tenancy is also being offered for lease.
The balance of the 3913 sqm complex is leased to BCF (continues below).
Cushman & Wakefield’s Myles Fredericksen and Mitch Taulelei brokered the off-market sale.
The same agents are also managing the leasing campaign.
Virginia is 11 kilometres from town.
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