ICG Real Estate buys UK warehouse for sale and leaseback fund
Intermediate Capital Group’s real estate arm has acquired a 473,232sqft online fulfilment centre in the UK. ICG Real Estate said it has bought the Boots distribution warehouse in Burton-on-Trent in a sale and leaseback transaction. ICG’s SLB Fund is pleased to close the acquisition of Boots’ main online fulfilment centre, adding another mission-critical asset to the portfolio, said Chad Brown, managing director at ICG Real Estate. Brown said rental growth forecasts in the sector continue to be strong, with the...