Hines Global Income Trust has acquired Cross Point Business Park, an industrial warehouse in the West Midlands, 24 miles east of Birmingham outside of Coventry, United Kingdom. A price was not disclosed.
The warehouse is leased to Restore, a support services company. The acquisition marks Hines Global’s fifth project in a portfolio of strategically added U.K. warehouses in just over a year.
Cross Point Business Park is a 147,000-square-foot, modern specification logistics warehouse constructed in 1994 and comprehensively refurbished and extended in 2015. It is located in the “Golden Triangle”, the U.K.’s premier location for logistics and distribution operations. This location provides direct access to major roadway networks, ports, railways and airports, enabling deliveries to reach over 90 percent of the United Kingdom population within four hours.
“Cross Point Business Park’s location within the ‘Golden Triangle’ further diversifies our U.K
