A logistics site in the Black Country has been bought by Oxenwood Real Estate for £12.2 million.
The warehouse facility, which totals 143,279 sq ft, is located on the Hilton Cross Business Park at Featherstone near junction one of the M54.
It has been bought from the occupier Mann + Hummel which is a global filtration technology company.
The facility has been leased back to the company on an 18-month deal.
When the lease expires, Oxenwood said it planned to reposition the building by carrying out a refurbishment programme to create a distribution warehouse.
Stewart Little, co-founder of Oxenwood, said: "The purchase represents a strong value-add opportunity in a very strong West Midlands location which sits close to existing assets managed by us.
"During the short-term leaseback period, we will look to identify an occupier with whom we can work to deliver a best-in-class facility serving the Midlands and beyond."
Oxenwood was advised by Atlas Real Estate.
