PGIM Real Estate's U.S. Sustainable Investing Strategy Selected as Winner of PREA 2024 ESG Momentum Award
The PREA ESG Momentum award recognizes industry-leading and innovative approaches to ESG issues among real estate strategies.
Jul 18, 2019
4 mins
July, 18 2019 – PGIM Real Estate has announced the completion of Craigieburn Junction, the latest retail and lifestyle destination in the fast-growing northern suburbs of Melbourne. Craigieburn Junction opened to the public in June 2019 and was developed with Oreana Property Group, who originally acquired the site, obtained all necessary approvals and delivered the project as the development manager. PGIM Real Estate is the real estate investment business of PGIM, the $US1.2 trillion global investment management business of U.S.-headquartered Prudential Financial, Inc. (NYSE: PRU).
The centre will hold its Grand Opening celebration over the weekend of the 20th and 21st of July, with several activities planned along with the official opening by the Mayor of Hume City, Ms. Carly Moore.
Craigieburn Junction has over 30,000 square metres of retail floor space, including some of the nation’s leading large format retailers, such as Nick Scali, Freedom, Snooze, Super Cheap Auto, 40 Winks, Bed Shed, Pet Barn, Autobarn and Fernwood Fitness. The centre also has a high proportion of lifestyle and service tenants, including a Caltex Service Station, fast food outlets, a supermarket, a childcare centre, a major medical centre and various food and beverage outlets.
“We are thrilled to help bring such a strong line-up of brands to Craigieburn and the wider Hume area, which is benefiting from very strong population growth and government infrastructure,” said Steve Bulloch, managing director and head of Australia for PGIM Real Estate. “We believe the centre’s mix of high-quality homewares, combined with a significant level of non-discretionary lifestyle and food and beverage tenants, convenient access and parking, will all underpin its performance.”
Oreana’s managing director Steven Sass commented, “This development has been one of the major steps forward for our business, developing a large format retail centre of this quality with a global partner such as PGIM Real Estate. This complements our efforts of developing leading residential developments and the support services needed for the residents of the area.”
The PREA ESG Momentum award recognizes industry-leading and innovative approaches to ESG issues among real estate strategies.
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