Hines Global Income Trust has acquired the Cross Point Business Park in the West Midlands.
The 147,000 sq ft warehouse is leased to support services company Restore.
The site is located in the Golden Triangle, and provides direct access to major roadway networks, ports, railways, and airports, enabling deliveries to reach more than 90% of the UK population within four hours.
Greg Cooper, Director at Hines UK said: “At a time where increasing competition for land in the area from other use classes is ramping up, this is a key acquisition to increase the attractiveness and value of Hines Global’s broader portfolio.”
He adds: “We anticipate a further tranche of acquisitions in the coming year in line with this strategy.”
Omar Thowfeek, Managing Director of Hine’s Globals’s Investments said: “The logistics sector represents close to 50% of our portfolio and has proven to be an area of strong growth and resilience. We look forward to continuing to seek opportunities to expand our investment in this sector.”
