Centuria Industrial REIT fund manager Jesse Curtis tipped warehouse rents to surge even higher over the coming months due to strong ecommerce take-up and supply chain pressures after the $4 billion logistics landlord reported a 10 per cent average rise in rents on leasing deals finalised over the six months to December.
On the back of this “tangible” double-digit rental surge, a $680 million acquisition spree, 99 per cent occupancy rate and 10 per cent rise in property values, CIP – the ticker under which the trust trades – upgraded its full-year earnings guidance to “no less” than 18.2¢ per unit, up from 18.1¢ forecast in August.
