CB Richard Ellis Realty Trust, through its UK joint venture with the Goodman Group, has acquired a 146,491 sq ft (14,000 m2) Class A distribution centre in Rugby, UK. Financial details were not disclosed.
CB Richard Ellis Realty Trust, through its UK joint venture with the Goodman Group, has acquired a 146,491 sq ft (14,000 m2) Class A distribution centre in Rugby, UK. Financial details were not disclosed.
The property was developed in 2000 and is fully leased until 2016 to a subsidiary of one of the world’s leading suppliers of logistics services, which operates the facility on behalf of a national health services organization.
The property is located in the 'Golden Triangle' distribution region of the West Midlands, which is within a four-hour drive of the majority of Great Britain.
With this purchase, CB Richard Ellis Realty Trust has now invested in seven properties in the UK and has further diversified its portfolio outside of the US. 'This acquisition strengthens our relationship with our UK joint venture partner and expands our holdings in the region,' said Philip L. Kianka, executive vice president and COO of CB Richard Ellis Realty Trust.
To acquire this property, the CB Richard Ellis Realty Trust team worked with CBRE Global Investors' UK office.
