In a move that will reverberate across the retail property landscape, Charter Hall Retail REIT (CQR) has seen better value in buying a half-share in a warehouse leased to anchor tenant Coles than adding to its $4 billion supermarket-anchored mall portfolio.

The Charter Hall-managed fund, which hasn't made a mall acquisition in almost a year and this week sold 50 per cent interests in two malls to Primewest, acquired a $111.8 million or 52 per cent interest in a $215 million Adelaide distribution facility leased for 14.5 years to Coles.