Arrow Capital Partners has announced the forward funding of the 248,000 ft2 (23,000 m2) logistics unit known as Corby 248 at Midlands Logistics Park, a joint venture between Mulberry Developments and Frogmore.
This is the fourth logistics assets to be sold and developed on the Park by Mulberry and Frogmore with the other three 100% let to Bosh (946,000 ft2), Stobart (844,000 ft2) and Europa (525,000 ft2).
Arrow has acquired the site for its €3 bn Strategic Industrial Real Estate (SIRE) platform and has retained the Mulberry team to develop the site into a high-quality logistics unit available for occupancy in April 2021.
Mulberry acquired Midlands Logistics Park in 2015.
Katherine Parker, head of Investment Management Europe at Arrow, said: ‘This continues SIRE’s investment in industrial and logistics assets which are benefiting from the acceleration in online retail. Corby 248 is superbly located and we look forward to developing the site with Mulberry to deliver a best in class asset in a supply-constrained market.’
Arrow was advised by Avison Young who have been appointed as joint letting agents for Corby 248 alongside M1 Agency.
