Alberta Investment Management Corporation Snatches Two UK Warehouses in Dunstable
Posted on 12/13/2021
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 LLP. Dunstable is a market town and civil parish in Bedfordshire, England, east of the Chiltern Hills, 50 kilometers north of London. Baytree was launched by AXA Investment Managers – Real Assets and is a pan-European logistics and industrial development company focusing on the U.K., German, and French markets.
Unit A is a 267,000 square foot warehouse let to UPS for a term of 5 years with a break at year 3.
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.
Oxenwood Real Estate will manage the assets on behalf of AIMCo.
AXA Investment Managers acquired the 32-acre Dunstable site in March 2018.
Keywords: AXA SA.