Valor Real Estate has made a £9.28m off-market acquisition of a 50,100 sq ft logistics warehouse in Crawley, south of Gatwick airport.
The 50,100, sq ft warehouse was recently refurbished to offer higher clearance and four level door access with two docks.
Gustav Detter, VP at Valor said:“I am very pleased to announce our third acquisition in the dynamic submarket of Crawley. This is a high-quality asset in a key location, with access to both South London and the wider South-East commuter belt, and appeals to our commitment to acquiring high-quality assets in competitive markets.
“With continuing low vacancy rates, constrained regional supply, and a limited development pipeline, Crawley is well positioned to sustain the strong rental growth we have seen in recent years”.
Valor pursued the transaction off-market from a private seller, and was represented by David Esterkin at Greenberry Advisors.
By Michelle Mooney