{"id":1004377379,"date":"2019-12-19T05:09:35","date_gmt":"2019-12-19T13:09:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004377379"},"modified":"2019-12-19T05:09:35","modified_gmt":"2019-12-19T13:09:35","slug":"hines-globals-got-royal-mail-in-scotland","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-globals-got-royal-mail-in-scotland\/","title":{"rendered":"Hines Global\u2019s Got Royal Mail in Scotland"},"content":{"rendered":"
\"\"<\/a>

Royal Mail sorting warehouse in Edinburgh. Image courtesy via Google Street View<\/em><\/p><\/div>\n

Hines Global Income Trust Inc. has acquired the Royal Mail sorting warehouse<\/a> in Edinburgh, Scotland, for around \u00a325 million ($32.7 million). The 215,745-square-foot facility is located on Edinburgh\u2019s Sighthill Industrial Estate, adjacent to Hermiston Gait Retail Park in the city\u2019s west end. The property is occupied by Royal Mail and employs more than 700 people. It is the collection and sorting point for all mail from the east side of Scotland.<\/p>\n

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READ ALSO<\/strong>: Prologis Increases Development Capacity in China to $3.5B<\/a><\/p>\n

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The seller was RPMI Railpen, one of the U.K.\u2019s largest pension funds, with assets of about \u00a330 billion ($39.3 billion), which it handles on behalf of 350,000 pension fund members who are connected to the railway industry. RPMI Railpen was represented by Knight Frank. ACRE Capital Real Estate advised Hines Global, a public, non-listed REIT sponsored by Hines. In a prepared statement, Greg Cooper, Hines UK director of industrial and logistics, called the site \u201ca key location for Royal Mail<\/em>.\u201d<\/p>\n

Gray, with bright spots<\/h2>\n

Hines Global\u2019s two previous 2019 acquisitions of U.K. logistics assets were a 139,387-square-foot asset in Milton Keynes, occupied by men\u2019s clothing retailer Charles Tyrwhitt, and a 270,248-square-foot distribution facility in Bristol, occupied by DSG Retail.<\/p>\n

Scotland\u2019s economy is faltering, according to a November report from Colliers International, having seen a 0.3 percent quarter-over-quarter decline in the second quarter, versus a 0.2 percent decrease in the overall U.K. economy.<\/p>\n

Still, commercial real estate investment in 2019 is on pace to hit \u00a32 billion ($2.6 billion) for the sixth year in a row, with a substantial portion of that from Middle Eastern and U.S. investors. The Colliers report highlighted the purchase by Hines Global Income Trust of a 607-bed student housing property in Glasgow for \u00a372 million ($94.5 million).<\/p>\n

Quite recently, the Hines European Value Fund acquired<\/a> a nine-story, 430,000-square-foot office building in Berlin for in excess of $178 million. The Atrium Charlottenburg is fully leased, and its anchor tenant is an affiliate of Europe\u2019s largest applied R&D organization.<\/p>\n","protected":false},"excerpt":{"rendered":"

The $32.7 million purchase of the sorting warehouse in Edinburgh marks the trust\u2019s third investment in U.K. logistics properties this year. <\/p>\n","protected":false},"author":882,"featured_media":1004377403,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,16,21783,21742],"tags":[48227,32763,32797,34407],"class_list":["post-1004377379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-international","category-investment","category-latest","tag-acre-capital-llc","tag-colliers-international","tag-hines","tag-knight-frank"],"acf":[],"yoast_head":"\nHines Global\u2019s Got Royal Mail in Scotland - 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\/hines-globals-got-royal-mail-in-scotland\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines Global\u2019s Got Royal Mail in Scotland\" \/>\n<meta property=\"og:description\" content=\"The $32.7 million purchase of the sorting warehouse in Edinburgh marks the trust\u2019s third investment in U.K. logistics properties this year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hines-globals-got-royal-mail-in-scotland\/\" \/>\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=\"2019-12-19T13:09:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Royal-Mail-sorting-warehouse-in-Edinburgh.-Image-courtesy-of-Hines.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-globals-got-royal-mail-in-scotland\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hines-globals-got-royal-mail-in-scotland\/\",\"name\":\"Hines Global\u2019s Got Royal Mail in Scotland - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-globals-got-royal-mail-in-scotland\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-globals-got-royal-mail-in-scotland\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Royal-Mail-sorting-warehouse-in-Edinburgh.-Image-courtesy-of-Hines.jpg\",\"datePublished\":\"2019-12-19T13:09:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-globals-got-royal-mail-in-scotland\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/hines-globals-got-royal-mail-in-scotland\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-globals-got-royal-mail-in-scotland\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Royal-Mail-sorting-warehouse-in-Edinburgh.-Image-courtesy-of-Hines.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Royal-Mail-sorting-warehouse-in-Edinburgh.-Image-courtesy-of-Hines.jpg\",\"width\":800,\"height\":620,\"caption\":\"Royal Mail sorting warehouse in Edinburgh. 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