A freestanding industrial investment in Revesby has sold in an off-market transaction for $3,350,000.
43 Marigold Street comprises a 2,790sqm building set on an expansive 5,893sqm site. Centrally located in the Revesby industrial precinct, in proximity to the M5 Motorway, the property is occupied by a long term tenant paying $270,000 pa net + GST.
Ryan Jennings from CBRE’s industrial & logistics team sold the property on behalf of the vendors, Pikato Pty Ltd and Brescall Pty Ltd.
Mr Jennings said CBRE was appointed to run an off-market, Expressions of Interest campaign.
“With the South West experiencing extremely low stock, a dedicated canvassing program was implemented, with a mixture of local and interstate investors presented with the details of this outstanding opportunity,” Mr Jennings said.
“The eventual purchaser was a local private investor who purchased the property for $3,350,000 on a yield of 8%.”
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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 (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 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.