Trammell Crow Company (TCC) announced it has acquired a 19.4 acre site in Milton Keynes.
The company develops and invests in commercial real estate and employs more than 650 professionals in the United States and Europe.
Construction is expected to begin on the site in 2022 with an expected completion date in 2023.
Reports say Trammell Crow Company is thought to have paid around £38 million for the former Arcadia distribution centre site on Merton Drive.
The company plans on creating three new buildings of 212,309 square feet; 70,816 square feet and 51,420 square feet.
Mike Forster, Director and Head of UK logistics for Trammell Crow Company said: “This is a unique opportunity, and we are extremely pleased to acquire our first site in Europe having only entered the market a few months ago, this important acquisition demonstrates our ability to identify and close prime opportunities quickly, in order to facilitate the rapid planned expansion of our European development programme.
“Milton Keynes is considered one of the key prime logistics locations in the UK, with excellent transport infrastructure that serves to attract a number of manufacturers, third-party distributors and, increasingly, large retailers operating their own distribution functions.”
