{"id":1004101073,"date":"2014-07-24T12:55:02","date_gmt":"2014-07-24T20:55:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004101073"},"modified":"2022-12-03T22:33:47","modified_gmt":"2022-12-04T06:33:47","slug":"chambers-street-properties-sells-shopping-center-in-uk-for-63m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/chambers-street-properties-sells-shopping-center-in-uk-for-63m\/","title":{"rendered":"Chambers Street Properties Sells Shopping Center in UK for $63M"},"content":{"rendered":"

By Anna Spiewak, News Editor<\/em><\/p>\n

\"Kianka-Philip-5X7\"<\/a>

Philip Kianka, Chambers Street<\/p><\/div>\n

In order to focus its efforts on the industrial and office sector, Chambers Street Properties decided to sell its last retail property, Maskew Retail Park on the outskirts of Peterborough, United Kingdom, for $63 million.<\/p>\n

A U.K. fund manager, Rockspring Property Investment Managers, bought the 144,400-square-foot shopping center on behalf of U.K. Value 2 L.P.<\/p>\n

“Our long-term strategy has been to divest retail assets in order to concentrate our strategy on our core industrial and office portfolio …\u00a0and this was a good time to sell,” Philip Kianka, executive vice president & COO, Chambers Street told Commercial Property Executive<\/em>.<\/p>\n

Chambers Street bought Maskew Retail Park in October 2008. It was the last remaining property in the company’s 35.8 million-square-foot portfolio.<\/p>\n

The net lease real estate investment trust still owns five other properties in the U.K.:\u00a0three\u00a0warehouses\/distribution centers and two office\u00a0 properties.<\/p>\n

“We like the long- term fundamentals behind the\u00a0warehouse\/distribution\u00a0property sector, especially as those fundamentals relate to the growth of\u00a0e-commerce\u00a0and global trade,” Kianka added.<\/p>\n

And the proof is in the pudding<\/a>.\u00a0\u00a0In December 2013, Chambers Street bought an 80 percent ownership interest in an 966,169 square foot \u00a0 warehouse\/distribution property located in Lille, France. Then in February 2014, the company acquired 445 Airtech Parkway, a provider of warehousing and storage services, according to Reuters.<\/p>\n

For the future, the company \u00a0intends to\u00a0continue seeking out opportunities in the\u00a0warehouse\/distribution\u00a0sector\u00a0and \u00a0focus on adding further value to the portfolio through strong asset management and leasing, according to Kianka.<\/p>\n

Chambers Street owns or has majority interest in 129 properties throughout 20 U.S. states, as well as France, Germany and the United Kingdom.<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

In order to focus its efforts on the industrial and office sector, Chambers Street Properties decided to sell its last retail property, Maskew Retail Park on the outskirts of Peterborough, United Kingdom, for $63 million.<\/p>\n","protected":false},"author":952,"featured_media":1004101084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,21783,21742,21749],"tags":[],"class_list":["post-1004101073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","category-investment","category-latest","category-retail"],"acf":[],"yoast_head":"\nChambers Street Properties Sells Shopping Center in UK for $63M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/chambers-street-properties-sells-shopping-center-in-uk-for-63m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chambers Street Properties Sells Shopping Center in UK for $63M\" \/>\n<meta property=\"og:description\" content=\"In order to focus its efforts on the industrial and office sector, Chambers Street Properties decided to sell its last retail property, Maskew Retail Park on the outskirts of Peterborough, United Kingdom, for $63 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/chambers-street-properties-sells-shopping-center-in-uk-for-63m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-07-24T20:55:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-04T06:33:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/07\/Kianka-Philip-5X7.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"372\" \/>\n\t<meta property=\"og:image:height\" content=\"336\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chambers-street-properties-sells-shopping-center-in-uk-for-63m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chambers-street-properties-sells-shopping-center-in-uk-for-63m\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"Chambers Street Properties Sells Shopping Center in UK for $63M\",\"datePublished\":\"2014-07-24T20:55:02+00:00\",\"dateModified\":\"2022-12-04T06:33:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chambers-street-properties-sells-shopping-center-in-uk-for-63m\\\/\"},\"wordCount\":300,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chambers-street-properties-sells-shopping-center-in-uk-for-63m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/07\\\/Kianka-Philip-5X7.jpg\",\"articleSection\":[\"International\",\"Investment\",\"News\",\"Retail\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chambers-street-properties-sells-shopping-center-in-uk-for-63m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chambers-street-properties-sells-shopping-center-in-uk-for-63m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chambers-street-properties-sells-shopping-center-in-uk-for-63m\\\/\",\"name\":\"Chambers Street Properties Sells Shopping Center in UK for $63M - 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