Centuria Property Funds No. 2 Limited (CPF2L), as Responsible Entity of Centuria Industrial REIT (ASX:CIP) is pleased to announce it has exchanged contracts to acquire 16-18 Baile Road, Canning Vale, WA for a price of $18.1m.
The property is a 11,067sqm high quality, modern, freestanding logistics warehouse located in one of Perth’s core industrial markets. Following a recent expansion in 2018, the property is leased to DHL with a WALE of 4.5 years.
Settlement of the acquisition is expected in March 2019 and the property will provide an initial yield of 7.0%.
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