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CBRE Global Investors exchanges contracts to buy Sports Direct HQ for £120M

CBRE Global Investors Inc. exchanged contracts to buy a warehouse and distribution center in Derbyshire, U.K., in an off-market sale and leaseback transaction with Sports Direct International PLC for approximately £120.1 million.

The company agreed to buy the 1,816,594-square-foot asset, which covers 75.24 acres and serves as the headquarters of Sports Direct, on behalf of an international separate account client.

The property comprises warehouse space, grade A office space and two retail warehouse stores, with more than 1,300 car parking spaces. It will be leased to SportsDirect.com Retail Ltd. for a 15-year term.