Craigieburn Junction sells for $100m
Oreana Property Group have completed a deal with PGIM for the acquisition of Craigieburn Junction for in excess of $100m.
The new 26,200sqm homemaker centre at 420 Craigieburn Rd was developed on a 6.5 hectare site and contains more than 60 tenancies and 600 car spaces. Tenants include Freedom, Forty Winks, Nick Scali, Snooze, a Fresh Plus Supermarket, Caltex Service centre and a number of fast food outlets.
PGIM structured the transaction as a land acquisition and fund through arrangement shortly after work commenced on site back in 2017. The construction work was undertaken by Maben with completion due this week.
Oreana have completed a range of other retail projects around Melbourne including, Findon Village, Wollert, Thompsons Road, Greenvale, and Cardinia Village, Pakenham.