Food distribution company, PFD Foodservices, has divested its Knoxfield cold storage facility in Melbourne’s east for $4.7 million.
CBRE’s David Aiello, Sasan Misaghian and Joe Brzezek, conjunctionally with Gorman Kelly, negotiated the sale of the 26 Rushdale Street property on behalf of PFD Foodservices.
Situated on a 9,480sqm site, the older style cold storage facility was purchased by a developer looking to capitalise on the property’s underlying land value.
“Significant land growth in Melbourne’s eastern industrial precinct underpinned strong buyer interest in the property, with a developer outbidding an owner occupier to secure the almost 1ha site,” Mr Misaghian said.
CBRE’s David Aiello, Sasan Misaghian and Joe Brzezek, conjunctionally with Gorman Kelly, negotiated the sale of the 26 Rushdale Street property on behalf of PFD Foodservices.
Situated on a 9,480sqm site, the older style cold storage facility was purchased by a developer looking to capitalise on the property’s underlying land value.
“Significant land growth in Melbourne’s eastern industrial precinct underpinned strong buyer interest in the property, with a developer outbidding an owner occupier to secure the almost 1ha site,” Mr Misaghian said.
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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 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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.
