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Segro expands London portfolio by £100M

U.K.-based industrial real estate investment trust Segro PLC said it expanded its Greater London portfolio by £100 million following off-market acquisitions in the towns of Dagenham and Croydon, as well as a July purchase of an eight-acre land parcel in the city's Tottenham district.

Segro purchased the 64,000-square-foot warehouse in Orion Park in Dagenham from Kuehne + Nagel Ltd. with a 10-year sale and leaseback deal.

The global logistics company acquired two units on Greenland Way in Croydon totaling 176,556 square feet.

Segro plans to develop a 185,000-square-foot urban logistics hub on the eight-acre parcel at White Hart Lane in Tottenham.

The acquisitions in Dagenham and Croydon and the development plans in Tottenham will expand Segro's London portfolio by more than 450,000 square feet.