Stonebridge Property Group and JLL are pleased to announce the sale of Crossroads, Casula for $282,000,000 (4.62% Yield) to LaSalle Investment Management.
The asset was marketed on behalf of AsheMorgan via an International Expressions of Interest campaign. The transaction is the second largest LFR transaction on record in Australia.
The centre has a fully leased tenancy profile with a collective of 38 tenants comprising top brands nationally and globally, including Bunnings Warehouse, Freedom, Fantastic Furniture, Planet Fitness, Nick Scali and Officeworks. Crossroads has co-locational tenancies such as Costco Wholesale, Crossroads Hotel and industrial uses.
Philip Gartland of Stonebridge said, “Crossroad’s brilliant strategic position, in the strong south western growth corridor and at the intersection of the M7, M5 and Hume Highway means there is significant further rental growth and asset intensification to unlock”.
The transaction follows Stonebridge’s recent sale of Homeworld Helensvale to a private investor for $265,000,000, demonstrating the depth of capital for major large format retail centres.
For further information on the transaction, please contact the selling agents –
Philip Gartland | + 61 402 147 780 | pgartland@stonebridge.com.au
Carl Molony | +61 439 032 028 | cmolony@stonebridge.com.au
Jonathan Fox | +61 402 147 780 | jfox@stonebridge.com.au
Lincoln Blackledge | +61 408 780 772 | lblackledge@stonebridge.com.au
