Partners Group and Realterm JV acquires first property in Australia
Partners Group, acting on behalf of its clients, and Realterm have formed a transportation logistics real estate joint venture with its first acquisition in Australia.
The asset is a 41,490-square-meter (446,595-square-foot) industrial outdoor storage (IOS) facility at 77 Governor Macquarie Drive, Chipping Norton, Sydney, New South Wales.
Located in Sydney’s southwest, the property is leased to four industrial outdoor storage occupiers, which are utilizing the space for construction material storage, container storage and truck parking. The low site coverage, its rectangular shape and multiple access points provide future flexibility to accommodate single or multiple industrial outdoor-storage occupiers. This site represents one of the last remaining sizable land parcels in the Chipping Norton submarket capable of accommodating single-occupier briefs of approximately 40,000 square meters (430,556 square feet).
Located along the southwest M5 transport corridor,