The Centuria Industrial REIT (ASX: CIP) share price is gaining in afternoon trade, currently up 0.5% to $3.76 per share.
This comes as the S&P/ASX 200 Index (ASX: XJO) is falling, with the benchmark index down 1.9%.
CIP is Australia's largest domestic pure play industrial real estate investment trust (REIT).
Below, we look at the REIT's announcement on its sustainable logistics property.
What did CIP announce?
The Centuria share price is bucking the wider market trend and rising after CIP reported it had opened a highly sustainable rated industrial property in Brisbane. Queensland's capital city has seen rising demand for quality industrial space, with a current 2.9% vacancy rate.
According to the release, the newly completed, $18.1 million 10,244 square metre facility is 1 of Australia's first "five-star Green Star – Design & As Built Certified" industrial buildings under the Green Building Council Australia's new rating guidelines.
Ipswich City Council Mayor, Teresa Harding, and CIP's fund manager, Jesse Curtis were on hand to celebrate the opening.
The property includes recycled watering systems along with rainwater harvesting, a 99kw solar panel system, recycled materials, and a drought-resistant landscape.
Commenting on the opening of the green rated facility, Curtis said:
We are pleased to be developing this industrial property to meet the rising demand from the logistics and warehousing sector in Greater Brisbane, where vacancy rates are a low 2.9%. In particular, Bundamba is attracting blue-chip national and international corporations with existing occupiers in the CIP portfolio including Australian Pharmaceutical Industries (API) and The Reject Shop.
The new opening represents Centuria's 16th asset in Queensland and its total Australian portfolio to 66 industrial assets worth more than $3 billion.
In other news that could be offering a boost to the Centuria share price today, CIP confirmed it would pay a dividend of 4.25 cents per share for the quarter ending 30 June 2021. The ex-distribution rate is 29 June, with payment slated for 10 August.
Centuria share price snapshot
Over the past 12 months, CIP shares have gained 11%, trailing the 22% gains posted by the ASX 200.
Year-to-date the Centuria share price has turned the tables on the benchmark index, with CIP shares up 21% compared to an 8% gain on the ASX 200 so far in 2021.
