Sydney, 28 January 2016- An industrial investment in the popular precinct of Yennora has sold for $9.33 million.
32 Pine Road, Yennora, comprises a 12,890sqm building and features a highly functional freestanding building. The property is a high clearance, highly exposed facility neighbouring the Yennora railway station.
Elijah Shakir and Jason Edge from CBRE sold the property on behalf of LOGOS and Partners Group to a private owner occupier.
Mr Shakir said the sale signifies the second transaction within the highly anticipated release of the Stage 1 subdivision.
“The transaction represents a figure well below replacement cost which provides occupiers within the Sydney Metropolitan region the opportunity to purchase a large freestanding industrial facility at land value,” Mr Shakir said.
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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 2014 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.