Specialist developer, investor and manager of real estate Arrow Capital Partners has completed the acquisition of a logistics facility near Wolverhampton for its Strategic Industrial Real Estate (SIRE) joint venture with Cerberus Capital Management.
The asset totals 304,000ft² of logistics space across two units that comprise a high-bay warehouse with a 17m clear height completed in 2022.
This is alongside an original warehouse with an 8m clear height dating from the 1990s. The facility is situated on a large, secure site with extensive yard areas.
The property, called Willenhall 300, was acquired in an off-market transaction from Nationworld Ltd and is fully let to BJS Distribution Storage and Couriers Limited, an established distribution and logistics business based in the Midlands.
Arrow Capital Partners head of real estate Europe, Cormac Dunne, said: “This acquisition represents the kind of high-conviction logistics investment we are targeting: a modern, well-specified asset in a supply-constrained area with exceptional connectivity.
“The West Midlands market demonstrates strong occupational fundamentals, underpinned by its central location within the UK’s distribution network and access to a deep labour pool.
“Securing this asset off-market and fully let to an established operator aligns with our strategy of delivering durable, income-driven returns.”
