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LONDON-Goodman has sold two distribution warehouse facilities for $42 million. The industrial properties were purchased by BNP Paribas REIM through its Arlington Business Park Partnership fund.

“This is a strategic transaction that reflects our active management of the properties in our portfolio, as we seek to create value and enhance returns for our investors,” says Jim Johnston, managing director of Goodman’s UK business parks. “The buildings were identified for sale in order to take advantage of significantly improved pricing within the logistics sector, and as part of a general rebalancing of the portfolio.”

The 401,837-sqaure-foot portfolio is occupied by Panasonic UK Ltd. and is located on Gowerton Road at Brackmills Industrial Estate in Northampton. Panasonic’s lease on the properties expires in 6.4 years.

The Arlington Business Park Partnership fund has $2.2 billion of assets under management. Its portfolio consists of 23 business parks located in prime office markets in the UK.

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