DEXUS Property Group has announced that it has entered into an agreement to sell its remaining US industrial property for $56.2 million US dollars.
The deal, for the property located in Los Angeles, is expected to be completed on April 17 this year.
In a statement, Dexus CEO Darren Steinberg said the transaction is an "excellent result" for DEXUS, which is in line with the company's strategy of exiting the US market.
The company's offshore exposure has now been reduced to just 0.5 per cent and they are now expected to focus their core activities on Australian property market.
