Dexus Australian to purchase industrial properties for $121 mln

Dexus Australian Logistics Trust, the unit of real estate investment trust company Dexus, has agreed to purchase two industrial properties in Australia.

Dexus Australian will pay A$173.5 million ($121 million) to undisclosed sellers to buy the properties, the 37-39 Wentworth Street facility, as well as the Ford facility at Merrifield Business Park.

One of the assets, a cold store located at 37-39 Wentworth St. in Greenacre, New South Wales on the roughly four-hectare site, spans 19,246 square meters, with 5,950 square meters of expansion space.

Additionally, the facility at Merrifield Business Park in Mickleham, Victoria, measures 51,595 square meters and is being developed for Ford Australia. The settlement of both lands is expected in July.