This article is from the Australian Property Journal archive
STOCKLAND is selling the Port Adelaide Distribution Centre after holding the asset for more than 20 years.
Located at 25 – 91 Bedford St Gillman, the estate is one of Adelaide’s largest portside industrial parks. The Port Adelaide Distribution Centre occupies a substantial 32ha site and comprises 12 freestanding industrial buildings with a gross lettable area (GLA) of around 167,500 sqm.
Logistics and business parks general manager Tony D’Addona said now is a good time to recycle the capital.
“We’ve owned and managed Port Adelaide Distribution Centre for the better part of two decades. We have actively managed the asset, undertaking significant improvements, which have resulted in high levels of occupancy.
“We believe now is a good time to consider selling the asset and recycling the capital into our industrial development pipeline.” D’Addona said.
CBRE and JLL have been appointed joint selling agents for the property.
The on-market EOI process commences on Thursday, 14 April 2016 and closes at 3.00pm on Tuesday, 10 May 2016.
Australian Property Journal
