Prologis, the US logistics property giant, has acquired the 705,000 sq ft Sainsbury warehouse at Waltham Abbey.
The deal sees the purpose-built cross-docked centre sold by German investors Deka Immobilien for an undisclosed sum.
It is the latest deal in the multi-billion pound surge of investment funds into UK warehouse property.
Sainsbury warehouse is on a prominent 41-acre site overlooking the north section of the M25 motorway and has direct access to Junction 26. The facility serves Sainsbury’s 79 London stores.
Andrew Griffiths, managing director, Prologis UK, explained: “Properties of this size and quality rarely come onto the market, and we are delighted to add it to our portfolio.”
JLL acted for the Prologis fund and the vendor was represented by Savills and CBRE.