Stride Property to reap $31.8M from Penrose property, provided it can ensure leases

Stride Property to reap $31.8M from Penrose property, provided it can ensure leases
Jonathan Underhill
By Jonathan Underhill April 19 (BusinessDesk) - Stride Property has conditionally agreed to sell its office building at 650 Great South Road, Penrose for $31.8 million, or 7.8 percent above book value. The price is conditional on Stride ensuring replacement or additional leases are found in the event any tenants exercise early termination rights, or where short-term leases expire, the Auckland-based company formerly known as DNZ Property Fund said in a statement. If all the costs related to those commitments were incurred, the net sale pr...