The site is located 12 kilometres from the CBD and is the largest single industrial site in Balcatta.
Stockland Group Executive and CEO Commercial Property John Schroder
described the location as one of the best industrial locations in the Western Australian industrial market.
“Brownes is Australia’s oldest dairy with an iconic, heritage brand and leading position in the WA dairy industry,” Mr Schroder said.
“It is a highly reputable and stable tenant and is committed to the site for at least the next 20 years, providing us with secure income and a very long WALE,” he said.
Stockland’s Industrustrial General Manager Tony D’Addona
said the acquisition provided a strong investment and added opportunities to further develop over a 3.9 hectare site of surplus development land.
He said the acquisition of the site would help grow the companies exposure to the Perth market.
“The Perth industrial market remains tightly held, which we believe will underpin rents and values going forward.”