Brisbane, 11 May 2016 – A private investor has secured a footprint in Brisbane’s industrial property market, scooping a 623sqm warehouse occupied by global diagnostic firm Alere Inc for $1.3 million.
Located in the south-western suburb of Darra, the property at 20 Queensland Road comprises a 551sqm clearspan warehouse - inclusive of a 200sqm cold room – and 72sqm corporate office.
The property, which benefits from container height roller door access, is leased to the New York Stock Exchange (NYSE) listed Alere Inc on a four-year term, with three-year option. The rental is $103,421 net per annum.
CBRE’s David Savoff and Mark Gilbride negotiated the deal on behalf of a private vendor, with the deal reflecting a yield of 7.95%.
Mr Savoff said the property’s prominent location in Brisbane’s south-west was a factor underpinning the sale.
“This property beneifts from close proximity to public infrastructure and the motorway network, including the Ipswich, Centenary and Logan motorways,” Mr Savoff said.
“The security of a NYSE backed lease was also pivotal to the sale, with the attractive tenant profile providing income security.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.