Stockland is commencing an on-market campaign to sell Port Adelaide Distribution Centre in South Australia.
Tony D’Addona, General Manager Logistics and Business Parks at Stockland, said: “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.”
Port Adelaide Distribution Centre occupies a substantial 32 hectare land holding and comprises 12 freestanding industrial buildings with a gross lettable area (GLA) of around 167,500 square metres. The estate is one of Adelaide’s largest portside industrial parks and is strategically located at the confluence of major heavy rail, highway and shipping infrastructure. The facility is located at 25 – 91 Bedford Street, Gillman, 12 kilometres from the Adelaide CBD.
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.