Discounts goods supplier snaps up space at industrial estate
Arrow Capital Partners has leased Arrow 186, a 186,000 sq ft warehouse at its new development in South Yorkshire, to importer and wholesaler Gem Imports.
Comprising two big-box units totalling 452,000 sq ft of lettable space, Arrow Point was developed for Arrow’s Strategic Industrial Real Estate (SIRE) joint venture with Cerberus.
The net-zero embodied carbon project includes sustainable features, such as air source heat pump technology, electric vehicle charging points and ‘solar ready’ roofs.
Gem Imports, an online importer and wholesale supplier of discount product ranges and pound lines, has signed a long-term lease for the warehouse. Following this deal, one remaining unit, a 266,000 sq ft warehouse called Arrow 265, remains available to let.
Arrow Capital Partners is a specialist investor, developer and manager of real estate in Europe and Asia-Pacific. It says Arrow Point was developed to meet demand for big-box logistics assets in Yorkshire and northern England.
Rob Howe, head of European real estate at Arrow Capital Partners, said: “This lease highlights the continuing demand for modern big-box logistics space in the north of England.
“Despite recent market volatility, the structural drivers underpinning the big-box logistics sector remain consistent.
“Our experience shows occupiers and investors are increasingly prioritising well-located and sustainable space that will meet their operational and broader sustainability goals well into the future.”
Mike Baugh, executive director, CBRE Leeds added: “We are pleased to secure this strategic deal for Arrow Capital. It was a pleasure working with Nick at AWS to assist Gem Imports in their expansion.
“This deal maintains the steady take-up momentum in the Yorkshire market, despite economic challenges which have slowed down decision making on some transactions.”
Arrow Capital Partners was advised by CBRE, Cushman & Wakefield and LSH. Gem Imports was advised by AWS.