Titan Investors has acquired a 200,000 sq ft Grade A logistics unit in Wolverhampton for an undisclosed price.
The property, which reached practical completion in April, is fully let to PJH Group on a 15-year lease.
The unit forms part of the two-unit PIN54 development, which is asset managed by PIN Property. This transaction follows the earlier disposal of Unit 2 to a Wolverhampton-based occupier, which has acquired the unit for its own occupation.
Philip Meakin, from Pin Property, which represented the vendor on the deal, said: “Unit 1 PIN54 represents the highest quality of modern logistics accommodation. We are pleased to have completed a sale to Titan Investors, who will benefit from the long-term lease commitment with PJH and the underlying future rental growth prospects given the quality of the real estate and location.”
JLL and Pin Property acted for the vendor and Christopher Dee advised Titan Investors.
