Commerz Real has sold a UK logistics warehouse to Ares Management.

The German fund manager sold the DC 380 property in Harlow for €40.5m.

The building was held in the hausInvest open-ended real estate fund.

The 36,200 sqm building, between London and Stansted Airport, is fully leased to two tenants.

The fund manager said 14,200 sqm is leased for 15 years to Industrial Tool Supplies, while the remaining 22,000 sqm is let for five years to the logistics service provider Wincanton.

Commerz Real had owned the property since 2008.