World Economy

200 US Warehouses for $4.5b

200 US Warehouses for $4.5b200 US Warehouses for $4.5b

Global Logistic Properties Ltd. agreed to buy more than 200 warehouses from Industrial Income Trust Inc. for $4.55 billion in a deal that will make it the second-largest owner of US industrial real estate, Bloomberg reported. In its second American acquisition this year, Singapore-based GLP will purchase assets that comprise 5.4 million square meters in 20 major markets, including Los Angeles, Washington and Pennsylvania, GLP said in a statement Wednesday. The deal will increase GLP’s US assets by 50%, and the company will surpass Duke Realty Corp. to be the country’s second-biggest owner of industrial real estate, after Prologis Inc.