O'Connor warehouse hits market

An industrial property in O'Connor is part of a portfolio of packaging manufacturer PACT Group's warehouses being brought to market by privately-held investment company Centralbridge, which expects to reap around $80 million from the sales.

Commercial agent CBRE has been appointed as exclusive selling agent for the properties, which are located in Fremantle, Victoria, New South Wales and New Zealand.

The Fremantle warehouse will be offered on a short term lease or for vacant possession, while the remained of the properties will be sold holding 12 year leases to steel and plastic packaging business PACT Group.

PACT Group manufactures a long list of packaging products, from steel drums to plastic laundry detergent bottles, employing more than 3,500 people across Australia.

The properties will be offered for sale individually or as a group, CBRE said.

Centralbridge owner and PACT Group chairman Raphael Geminder said the improved state of the nation’s industrial land market meant now was the ideal time to divest the assets.

The properties will be sold via an expressions of interest campaign which will close on June 14.