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LendLease fund markets A$115M building complex in Adelaide, Australia

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LendLease fund markets A$115M building complex in Adelaide, Australia

LendLease Group's Australian Prime Property Fund Commercial is selling an office and car park complex in Adelaide, Australia, with a price tag of approximately A$115 million, The Australian Financial Review reported.

The property at 80 Flinders St. comprises a 12,154-square-meter office building, which occupies a 4,387-square-meter site, and a 694-space car park. The building with an average lease expiry of 4.78 years is home to tenants including BAE Systems, IAG and Beach Energy, while the car park is leased to Wilson Australia, according to the publication.

CBRE Group Inc. and Knight Frank are overseeing the expressions of interest campaign for the divestment, the May 20 report added.