Zoolander Portfolio – Australia
Hines Research and local experts determined this asset was potentially undervalued. We targeted this portfolio of income-producing, industrial facilities in prime locations for expansion and improvement.
In the second quarter of 2022, Hines acquired the Zoolander Portfolio with the intent to expand and refine the properties in order to unlock significant value. Each of these industrial warehouse-type buildings were approximately 628,000 square feet, and all were located in prime, well-established infill markets (three in Sydney, one in Brisbane). Three already provided stable income from sticky, quality tenants. We planned to upgrade the buildings, renew/enhance the existing leases, and add additional warehouse space at one of the Sydney properties.
At a Glance
|LOCATION||Sydney and Brisbane, Australia|
|BUILDING DETAILS||58,350 sqm|
|YEAR BUILT / RENOVATED||1990s to 2010s / -|