BentallGreenOak and Equation Properties have acquired a 60 acre UK site for a 1m sqft logistics development.
BentallGreenOak said the site at Avonmouth in Bristol will be developed across three phases and the first units will be completed by the summer of 2022.
Financial details were undisclosed.
Toby Phelps, managing partner and head of European Equity at BentallGreenOak, said: “Since we started investing in the logistics sector in 2015, we have not seen a market environment with such compelling fundamentals.
“The COVID pandemic has accelerated certain behaviours, such as consumer reliance on e-commerce, which mean that these assets are now in higher demand than ever.”
To read the digital edition of the latest IPE Real Assets magazine click here.