Tak Development is owned by the giant Japanese Takenaka Corporation.
Profit fell 11% in what the property developer called a creditable result in a difficult year.
The Carlaw Park divestment leaves PFI with just one non-industrial asset.
Stride investment general manager Steve Penney is joining Kiwi Property to push a funds management strategy.
Average asking price increase in the industrial Bay of Plenty town rose by more than 130%.
The company announced a $178.3m deal for a bottling plant last October.
The pandemic has increased demand for smaller, higher-quality office spaces.
Vacancy rates may be up but industry heads say brick and mortar as important as ever.
It will receive a final payment of over $23.5 million from its insurers for 7 Waterloo Quay, Wellington.
The rebranded ASX-listed property trust plans to operate a co-working space company in Auckland.