A warehouse property in Dandenong South’s Logis Estate has changed hands for $3,660,000.
CBRE’s Ned Murphy and James Jorgensen negotiated the sale of 25 Darby Way on behalf of vendor Dazza Property Pty Ltd.
Comprising a 1950sqm building situated on a 3,141sqm parcel of land, the property has a lease in place to Trellborg Wheels until 2021, returning a net annual income of $181,066.
Mr Murphy noted the vendor is divesting the property in a move to recycle funds for its development pipeline at a time where the construction industry is finding it challenging to secure traditional bank funding.
“The purchaser is a local owner/occupier who has secured a strong investment for the remainder of the term while safeguarding their business for future expansion.”
CBRE’s Ned Murphy and James Jorgensen negotiated the sale of 25 Darby Way on behalf of vendor Dazza Property Pty Ltd.
Comprising a 1950sqm building situated on a 3,141sqm parcel of land, the property has a lease in place to Trellborg Wheels until 2021, returning a net annual income of $181,066.
Mr Murphy noted the vendor is divesting the property in a move to recycle funds for its development pipeline at a time where the construction industry is finding it challenging to secure traditional bank funding.
“The purchaser is a local owner/occupier who has secured a strong investment for the remainder of the term while safeguarding their business for future expansion.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
