Centuria Industrial REIT has lifted the value of its industrial property portfolio to about $4 billion after snapping up six last-mile logistics assets in Melbourne, Sydney and Brisbane that will cater to the growing demand for warehousing because of the e-commerce boom.

The latest acquisitions – acquired for $132.4 million on a 4 per cent weighted average yield – take CIP’s total spending on industrial property this financial year to more than $700 million.