Dexus Industria REIT (ASX:DXI) settled the acquisition of a warehouse of around 10,000 square meters located at 32 Cox Place, Glendenning in New South Wales for a net price of AU$40 million, according to a Tuesday Australian bourse filing.

A proposed refurbishment of the warehouse could lead to it being repositioned into three smaller prime-grade tenancies, increasing the gross lettable area to around 11,555 square meters, the filing said. This is subject to obtaining the required approvals.

The real estate investment trust will continue with its plans to divest its office assets at Brisbane Technology Park in Eight Mile Plains, Queensland, per the filing.