Logicor, a European owner, manager and developer of logistics real estate, has acquired a 951,000 sq ft logistics warehouse on a 38.5 acre site in Daventry, from a joint venture company managed and co-owned by Oxenwood Real Estate.
The 951,000 sq ft property is strategically located in the East Midlands and benefits from good access to the M1. The property is leased to XPO Logistics who use the warehouse to provide national distribution services for a global e-commerce company.
Charlie Howard, Managing Director – UK of Logicor, said: “We are very pleased to add this prime big-box property to the Logicor UK portfolio. Customer demand for well-located logistics assets across the UK continues to remain extremely high.
“This acquisition expands our logistics offering within the UK’s ‘Golden Triangle’ with a strategically important customer and ensures the continued growth of our UK owned and managed portfolio which today stands at 40 million sq ft.”
Jeremy Bishop, co-founder of Oxenwood Real Estate, said: “We are delighted to have successfully sold this substantial asset from our joint venture with AIMCo, the proceeds of which are to be redeployed into our expanding London urban logistics development portfolio.”
DTRE acted as advisors for the seller.