ACRE Capital have advised an Institutional Investor on the purchase of a distribution warehouse portfolio from Moorfield Group. The portfolio extends to 543,523 sq ft GIA of warehouse accommodation across 5 units. The portfolio was fully let to 4 Tenants at a very low average rental tone of 4.13 per sq ft. The WAULT was 4.4 years to expiry and 3.0 years to break offering excellent asset management opportunities, especially given the low rental tone. The transaction occurred off-market, and commanded a price of 42,500,000 which reflects 78 per sq ft.
Location: Moorfield Portfolio
Property Type: Warehouse
Transaction Type: Aqcuisition
Client: Institutional Investor
