Cabot Properties makes first acquisition in Sydney

Cabot Properties has acquired 42–52 Raymond Avenue, Matraville, a newly built 19,819-square-meter (213,330-square-foot) logistics property in the submarket of South Sydney for A$137.6 million ($91.8 million) from LaSalle Investment Management.

The transaction is the firm’s first acquisition in Sydney and is aligned with its strategy to invest in infill industrial real estate in top global logistics markets.

Among the first institutional-grade multi-story logistics developments in Australia, 42–52 Raymond Avenue is a class A, two-story ramp-up logistics facility consisting of four units ranging in size from 4,640 square meters to 5,109 square meters (49,945 to 54,993 square feet).

Of the four units, one is currently leased to an established local roofing material supplier. The development was built to Four Star Green Star standards, with sustainability features that include a 300-kilowatt solar PV system, energy monitoring systems, a rainwater recycling sys