ARA LOGOS Logistics Trust (ALOG) has sold Kidman Park, located in a western suburb of Adelaide, South Australia, for A$41.5 million ($32.38 million).
Completed in 1964 (with periodic additions made with the most recent being in 2004) and added to ALOG’s portfolio in 2015, the 58,795-square-meter (632,864-square-foot) property is freehold and comprises a cold-storage warehouse space with ancillary offices.
The proposed divestment is in line with ALOG’s proactive asset management strategy to rebalance ALOG’s portfolio where capital is intended to be redeployed to building a more resilient portfolio.
Over the past few years, ALOG has selectively divested lower-performing properties with limited growth potential, with the most recent being ALOG Changi DistriCentre 2, which was announced on April 22, 2021.
Karen Lee, CEO of the manager, said, “This proposed divestment is in line with ALOG’s strategy to proactively rebalance the portfolio to optimize
