Oceanic Estates has sold a multi-let industrial estate in Southampton to CBRE Investment Management in an off-market deal for an undisclosed price.
Adanac North Phase II forms part of the established Adanac Park industrial location and provides 11 units totalling approximately 141,000 sq ft.
The scheme, which was constructed in 2023, is let to a diverse range of occupiers across the industrial and logistics, trade counter and urban logistics sectors. CBRE IM purchased phase one of Adanac Park for a separate managed fund in 2021.
Jerry Vigus, senior director at Lambert Smith Hampton, which advised Oceanic Estates on the sale, said: “Adanac North Phase II represented a rare opportunity to acquire a best‑in‑class, modern industrial estate in an established and supply‑constrained South Coast location. The off‑market process allowed both parties to transact efficiently while reflecting the depth of investor demand for high‑quality, income‑secure industrial assets with long‑term growth potential.”
CBRE IM was advised by TT&G.
