Blackbrook Capital has announced the acquisition of a cross-dock logistics facility previously occupied by Sainsbury’s for an undisclosed amount.
The European real estate investment firm purchased the 274,000 square-foot facility which was located approximately 10 miles from Glasgow city centre.
The site was fully occupied by Sainsbury’s, subject to a long-term net lease.
The facility offers a “strategic distribution hub” which not only serves the Scottish market but also Northern Ireland and the North of England.
The property features all the core specifications required to meet the needs of “cross-dock logistics occupiers” as well as benefiting from close proximity to transport corridors and a major urban centre.
In addition, the site generates its own wind power.
Arvi A. I. Luoma, co-founder and CEO of Blackbrook, said: “We remain focused on investing in mission-critical properties where we see long-term value in the real estate and the occupier demonstrates a strong credit profile.
“This facility reflects our strategy well with an established long-term tenant operating in a defensive sector, together with a quality logistics asset that forms a key component of their regional distribution network.”
She added: “We look forward to building our portfolio in the UK as an important component of our pan-European platform.”