Principal Asset Management has acquired a logistics facility in Cumbernauld, Scotland, on behalf of LOG IN, the European logistics and industrial fund managed by Theoreim.
Located at Westfield Industrial Estate, one of the most established business parks in Scotland's Central Belt, the 7,200 square-meter (77,500-square-foot) facility is leased to the subsidiary of a U.S.-based global freight forwarder on a 10-year lease with no break clause.
Originally built in 1995, the property has recently undergone a comprehensive refurbishment program, including a new roof, LED lighting, façade, fencing, dock doors and office space. Following these works, it achieved an EPC ‘A’ rating.
The acquisition marks LOG IN’s fifth investment in the United Kingdom and its 17th overall. LOG IN was created in 2022 in partnership with the French alternative investment management company Theoreim and is the first French SCPI (Société Civile de Placement Immobilier) dedicated to
