X Commercial has closed 450 sales and leasing deals in the past year and manages more than 1900 properties worth $2.5 billion.
The Announcement:
Fast-growing X Commercial has opened its fifth office in Sydney, following a merger and acquisition of Industrial Zone Real Estate of Padstow in the southwest corridor.
The 12-year-old Industrial Zone Real Estate agency is owned by Mr Osman Omar and currently has a rent roll of over 300 properties in the industrial, commercial and retail sectors, with several large format shopping centres across Western Sydney.
Mr Omar commented: “X Commercial is a fresh, modern and unique agency offering exactly what I want for my clients. We share similar values and are keen to reach the next level of growth.”
X Commercial has closed 450 sales and leasing deals over the last year and currently manages more than 1,900 property assets, ranging from industrial sheds to shopping centres worth a combined $2.5 billion.
X Commercial’s Chief Executive Officer, Daniel O’Brien, said: “The chance to acquire such a well-established and successful local agency fits perfectly with our strategic growth plans to have offices in each of Sydney’s major industrial and commercial markets.
“We are seeing occupiers, tenants and investors moving further out from the Inner West and South Sydney into the southwest corridor, so we are expanding with the market as this area continues to grow.
“The X Commercial Group of Companies now has X Commercial Capital, X Finance and a Valuations and Advisory Division in-house, with 45 staff assisting our clients in every step of their property journey through our one-stop shop”, added Mr O’Brien.
Mr Omar said “X Commercial is really shaking up the property market with a very talented team of agents and advisers. I can not wait to offer all of their services to our existing and loyal client base”.
X Commercial has offices in South Sydney, Lower North Shore, the Inner West, the City Fringe, and now South Western Sydney. The X Finance and X Commercial Capital divisions have brokered more than $100 million worth of deals in the last 12 months.
Mr O’Brien said “The industrial sector is very strong, retail is recovering while the office market faces headwinds. We are seeing continued activity along the corridor as the second airport continues to be developed”.
Source: City Public Relations
