Global Logistic Properties is in early-stage talks with Industrial Income Trust to purchase around 200 of the latter’s warehouses, in a deal that could be worth $4.5bn, according to a person with knowledge of the matter.
GLP began its foray into the US warehouse sector in February. Its chief executive said last month the company was looking to double the amount of US assets it manages.
Industrial Income’s warehouse assets comprise around 58m sq ft of space and a deal, if it eventuates, would confirm GLP’s position as the second largest operator of US warehouses.
