Mair Property Funds is the latest syndicator to increase its presence in Perth, purchasing a sizeable Canning Vale industrial asset for $12.405 million.

Situated on a land plot of 18,771 square metres, the property at 13 Modal Crescent has a building area of 5,477 square metres spread across a fully sprinkled high truss warehouse, with full drive-round access for trucks and logistics.

There is also a 2,296 square metre awning.

At a glance:

• An industrial property at 13 Modal Crescent, Canning Vale has been sold to Mair Property Funds for $12.405 million.
• The property is leased to national tenant Timberlink on a 10-year term.
• The off-market sale was negotiated through Transact Capital Managing Director Alex Gismondi on behalf of Sentinel Property Group.

Source: Transact Capital 

The property is leased to national tenant Timberlink on a 10-year term. 

The off-market sale was negotiated through Transact Capital Managing Director Alex Gismondi on behalf of Sentinel Property Group.

Mr Gismondi told WILLIAMS MEDIA he had fielded "extremely high demand" from qualified property groups.

“The industrial and logistics sector has undergone significant growth as the evolution of both retail and economies of scale across different markets underpin both convenience and efficiency strategies," he said.

Source: Transact Capital

"Large funds and syndicators are absorbing the feedback from investors to increase their portfolio exposure in core industrial markets across capital cities.

"We have an overwhelming database of qualified buyers seeking more assets like 13 Modal Crescent and we are forecasting further yield compression as supply remains extremely low." 

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