DEXUS Property Group has settled on the purchase of 12 Creek St Brisbane, acquired in an equal 50% joint venture with DEXUS Wholesale Property Fund for $241.6 million (excluding acquisition costs).
The 34-level office tower is located in the heart of Brisbane’s ‘Golden Triangle’ and increases the group’s presence in the Brisbane CBD office market.
Dexus CEO Darren Steinberg said the team has delivered excellent results prior to settlement, actively negotiating lease extensions with a number of tenants over a total of 2,060 sqm — increasing the weighted average lease term from 4.5 years at exchange to 5.5 years.
Property Review
