AEW UK REIT has unconditionally exchanged on the acquisition of 2 Geddington Road, Corby for £12.4m.
It said completion of the acquisition would take place on the 19 Feb.
It said: 'The asset provides an attractive net initial yield of 10% and is fully let to GEFCO UK Ltd, a wholly owned subsidiary of GEFCO SA, a global provider of logistics services to manufacturers, with 3.75 years to expiry.
'The property comprises a secure fenced site along with a modern industrial property extending to 52,000 sq. ft. and is used by the tenant for the storage and inspection of vehicles.
'A mix of commercial and residential properties surround the area, including the Eurohub logistics park and a 250-acre development site currently being prepared by Frogmore and Mulberry Developments.'
At 9:02am: (LON:AEWU) AEW UK REIT Plc share price was 0p at 100.75p