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BlackRock puts office asset in Perth, Australia, up for sale at A$125M

Asset management giant BlackRock Inc. is looking to sell the two-building Optima Centre office complex in Perth, Australia, at an expected price of about A$125 million, The Australian Financial Review reported.

The grade A office building at 16 Parkland Road in the Herdsman Business Park is fully leased, the publication said, adding that it spans 16,116 square meters of space on a 9,459-square-meter site. The Government of Western Australia recently renewed its lease for roughly 83% of the asset's space through mid-2032, according to the report. The other building, which spans 2,611 square meters, is primarily occupied by Canon Australia and ABN Group.

The property has a weighted average lease expiry of 11.8 years and will generate a net annual rent income of over A$9 million, the report added.