April 30 (Reuters) - Centuria Industrial Reit CIP.AX :
* ACQUIRED 8 HECTARES OF LAND IN SOUTH GIPPSLAND HWY, DANDENONG SOUTH VIC FOR $26.3M (NYSE:MMM)
* ENTERED A DEVELOPMENT MANAGEMENT AGREEMENT TO CONSTRUCT A SIX-ASSET INDUSTRIAL ESTATE, REQUIRING A $62.5M INVESTMENT
* TRANSACTION INCREASES CIP'S PORTFOLIO VALUE ON COMPLETION TO $2.7 BILLION