In the recent 2014 earnings reporting season, companies including Scentre and CFS Retail, among others, said they were undertaking a strategic review of business which would likely result in asset sales.

These would be spread across office, retail and industrial properties, and already there are more than $2 billion being offered to the market in series of offmarket and advertised deals.

In one deal, Washington H. Soul Pattinson and Company is selling two logistics facilities covering 90,000 square metres in a deal estimated to be worth about $150 million.

WHSP put in $45.4 million in equity to develop the centres in Brendale, north-west of Brisbane, and 133-145 Lenore Drive, Erskine Park, in Sydney's outer west, which carry 15 year leases to the fashion group that includes brands such as Rebel, Ray's Outdoors and Amart Sports.

The properties are being marketed for sale in one-line by Michael Fenton from JLL and transaction adviser Hugh Williams from Pitt Street Real Estate Partners.

Mr Fenton, JLL's Australian head of industrial said the portfolio has already received strong interest from both domestic and international groups due to the scale of the offering, long term leases and new state of the art facilities in prime industrial locations.

The real estate investment trusts (REIT) and owner occupiers are very active in South West Sydney, according to Colliers International director, Adrian Balderston.

Since the start of the year, Mr Balderston has sold a range of assets including at 42 Airds Road, Minto for $12.6 million to Charter Hall, 50 Airds Road Minto for $21.6 million to Propertylink and 1 Johnson Road, Campbelltown for $19.4 million to Heathley.

"Owner occupiers have also been getting in on the act with Impreglon, a German manufacturer, buying 67-77 Airds Road Minto for $5.6 million, who are expanding from a smaller warehouse in Moorebank and Diami Australia buying 24 Williamson Road, Ingleburn for $5.02 million, moving from three smaller warehouses in Milperra to consolidate in Ingleburn," Mr Balderston said.

"Buyers are being attracted to South West Sydney because of large infrastructure projects and value compared to Western Sydney. The widening of the M5 Motorway to King Georges Road will be finished soon, Moorebank Intermodal is in the final stage of approvals and announcement of Badgery's Creek as the location of Sydney's second airport."

Freedom Foods Group also recently bought land for a new integrated Aseptic (UHT) production and logistics facility in south west Sydney for $16.6 million, through Mr Balderston.

FNP will acquire approximately 66,000 square metres of land at Ingleburn in South West Sydney. The acquisition price subject to final adjustments is approximately $16.6 million.

For offices, the Morgan Stanley Real Estate-owned Arena Investment Management has appointed agents, JLL, to run an open market process to identify and seek to secure the best liquidity outcome for the investors of the Arena Property Fund (APF), Arena Office Fund (AOF) and Chevron Renaissance Property Trust.

This could entail buying the management of the funds and the assets including nine office assets across the country, including 637 Flinders Street and 600 St Kilda Road, Melbourne and 85 Harrington Street, 235 Pyrmont Street, Pyrmont, 1-3 Smail Street, Ultimo, Sydney and the Chevron Renaissance, Surfers Paradise, among others.

The property portfolio is worth about $550 million.

All three of the Arena funds have been frozen for investor redemptions since 2008, when the global financial crisis had a significant impact on property values. In late 2011, Morgan Stanley Real Estate Investing (MSREI) acquired the business.