Investment firm Blackbrook Capital has bought a distribution hub close to Glasgow and let to supermarket group Sainsbury’s.
The firm is understood to have paid the unnamed vendor more than £30m for the 274,000 sq ft property, which was purpose-built for the retailer and serves Scotland, Northern Ireland and the North of England.
The building is set up for cross-docking, meaning vehicles load and unload goods there without any being stored – and generates its own wind power.
Blackbrook was set up in March by chief executive Arvi Luoma, former head of European investments for sale-and-leaseback specialist WP Carey, and chairman Gordon DuGan, a former chief executive of Gramercy Property Trust and of WP Carey.
Luoma said: “This facility reflects our strategy well with an established long-term tenant operating in a defensive sector, together with a quality logistics asset that forms a key component of their regional distribution network.”
Brodies acted as Blackbrook’s legal adviser and JLL as real estate adviser.
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