Macquarie Asset Management purchases 3.8msf multi-level logistics warehouse

Macquarie Asset Management Real Estate has finalized the purchase of a newly-opened, almost four million square foot warehouse distribution facility in Wilmington, Delaware. The purchase is considered one of the largest acquisition to date made on behalf of a U.S. separate account mandate by Macquarie’s U.S. Core/Core-Plus Real Estate team. The sales price is estimated to be more than $390 million.

The state-of-the-art distribution center, one of the first of its kind in the United States, is situated on Boxwood Road on the site of a former General Motors plant. The location, near I-95, the New Jersey Turnpike and I-295 provides convenient access to Washington DC, Baltimore, Philadelphia, and the New York-New Jersey metro area. The facility opened last September.

“This is a highly efficient fulfillment center format in a strategic location which provides access to more than 17 million people within a two-hour drive,” said Christopher Quiett, head of U.S. Core/Cor