Dexus and Canada Pension Plan Investment Board (CPP Investments) have plans to sell their 50 percent stake in 5 Martin Place tower, an office building in Sydney, to their joint owner, Cbus Property for approximately A$310 million ($208 million), according to media outlets.
5 Martin Place occupies a highly prominent location at the corner of Martin Place and Pitt Street in Sydney’s CBD. The building provides approximately 33,860 square meters (364,470 square feet) of net leasable area. Floor plates from the ground level to level 10 provide approximately 2,400 square meters (25,830 square feet) of net leasable area, while levels 11 to 19 each provide approximately 1,090 square meters (11,730 square feet) of net leasable area.
