Industrial demand lifts commercial real estate deals to $27.8b
7 October 2021: Industrial demand lifts commercial real estate deals to $27.8b
The value of commercial real estate transactions in Australia is on track to return to pre-COVID levels this calendar year, following a surge in logistics deals, new figures from JLL show. Over the first nine months of the year, the real estate firm tallied $27.8 billion of office, retail and industrial deals, 38 per cent higher than $20.2 billion of investment activity recorded for the whole of 2020.
"ESR Australia, led by Phil Pearce, led the logistics charge following its acquisition of the Milestone portfolio for $3.8 billion." "Led by the record-breaking $3.8 billion acquisition of the Milestone logistics portfolio by ESR, industrial and logistics sales rose to $13 billion over the first nine months of the year, more than double full-year 2020 volumes of $5.3 billion."
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