W.P. Carey has purchased a 100,000-square-meter (1.1 million-square-foot) class A logistics facility for £141 million (€162 million/$195 million), including transaction fees. Located in Solihull, U.K., the facility is leased for a term of 30 years to Jaguar Land Rover Limited.
Developed by Prologis, the facility is located at the center of the United Kingdom’s transport network in the “Golden Triangle” of logistics, in proximity to the arterial M42 motorway, Birmingham Airport and Birmingham International Railway Station, as well as major urban centers, which provide access to a deep labor pool.
“Driven by the rapid growth in e-commerce and fulfilment needs, demand for U.K. logistics assets continues to exceed supply,” said Karolis Adlis, senior vice president, investments, W. P. Carey. “As such, we are thrilled to announce our acquisition of this bespoke, Class-A facility built to high environmental and operational standards on an attractive basis. The
