AIMCo Acquires Two Logistics Warehouses in Dunstable
Edmonton, Alberta – Alberta Investment Management Corporation (AIMCo), on behalf of certain of its clients, has acquired two recently completed logistics warehouses in Dunstable, U.K., from a fund managed by AXA IM Alts and which have been developed by Baytree Logistics Properties.
Unit A is a 267,000 sq ft warehouse let to UPS for a term of 5 years with a break at year 3. The building is rated as BREEAM “Excellent” and was awarded “Building Project of the Year” in the Business Green Awards 2019.
Unit B is a 143,000 square foot warehouse let to Amazon for a term of 15 years. The building is a build-to-suit Amazon “Delivery Station” to service the ‘last mile’ of the delivery process, where packages received from fulfillment and sortation centres are loaded into vans which deliver directly to customers. Features include a multi-storey van deck with electric charging provision to store and charge Amazon’s fleet of delivery vehicles and a 6-lane canopied area accommodating 72 van loading bays.
The two properties sit on a combined site area of 33 acres and are located in a core South East location, strategically located just 40 miles north west of London and 3 miles west of the M1 motorway.
Rupert Wingfield, Head of European Real Estate at AIMCo, commented: “We are very pleased to add these prime assets to our clients’ U.K. logistics portfolios. In addition to solid real estate fundamentals, the buildings’ strong green credentials are important to us and align closely with AIMCo’s commitment to responsible investment.”
Oxenwood Real Estate will manage the assets on behalf of AIMCo.
About Alberta Investment Management Corporation
AIMCo is among Canada’s largest and most diversified institutional investment managers with more than $150 billion of assets under management. AIMCo invests globally on behalf of 32 pension, endowment and government funds in the Province of Alberta. For more information about AIMCo please visit www.aimco.ca or follow us on LinkedIn or Twitter.