Logistics facility in Ohio sells for $100m

Logistics facility in Ohio sells for $100m

Bahrain-based GFH Financial Group (GFH) has acquired a warehousing and distribution logistics facility, fully leased to FedEx Inc, situated in Ohio for US$100 million.

The facility is located in a primary logistics hub in the state of Ohio and a city that is considered as one of the fastest growing metro centres in the nation, providing access to over 60% of the US population in just one day’s drive.

Due to its strategic position, it is a mission-critical facility for FedEx and the company’s growing national ground delivery business, said GFH.

In February, the company acquired the Michelin distribution facility in Chicago for $135 million.

“We’re delighted to announce another strategic acquisition of a prime, income yielding real estate asset in the US logistics and distribution sector. The logistics and distribution real estate sector has proven to be one of the most dynamic sectors of commercial real estate. An increase in global trade and E- commerce, as well as development in supply chain management, has created an increased structural demand for warehousing space, and hence further growth. As part of our investment strategy, we have been investing in this dynamic sector and building a solid and diversified portfolio,” said Razi Al Merbati, Chief Executive Officer of GFH Capital KSA.