Dexus adds $40m Sydney warehouse to industrial portfolio
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The news: Dexus Industria REIT (DXI) has settled its $40 million acquisition of a warehouse in Glendenning, Sydney and said it intends to divest its Brisbane office assets.
The context: The 10,000 square metre warehouse could be repositioned into three smaller tenancies that would increase the gross lettable area to about 11,555 square metres. This is subject to approval but could potentially be in late 2025.
The site is located at an industrial precinct in northwest Sydney and is in line with DXI’s strategy to focus investment in infill and established middle-ring industrial precincts.
As such, DXI intends to divest office assets at the Brisbane Technology Park in Eight Mile Plains, Queensland.
The source: ASX
