W. P. Carey Inc. announced the acquisition of a 726,000 square foot (67,500 square meters) Class-A, cross-docked logistics facility in the U.K. for $112 million in an off-market transaction. The mission-critical facility is net leased to the U.K. operating subsidiary of Dixons Carphone plc ("Dixons"). Market-leading tenant: The tenant is the large business segment of Dixons, a leading multichannel retailer of technology products and services, with 14 brands in nine countries and operating across 1,500 stores and 16 websites. Dixons is a publicly listed FTSE 250 constituent company with a market capitalization of over $2 billion and annual revenues in excess of $13 billion. Mission-critical asset: The facility functions as part of Dixons' large and most critical distribution platform in the U.K., primarily supporting its e-commerce business, which is central to the company's long-term strategy. High-quality, energy-efficient facility in prime logistics location: The facility is a Class-A, cross-docked logistics facility with up to 50-foot (15-meter) clear heights, solar panels and the capacity for automation and expansion. It is located in the U.K.'s East Midlands region in one of the country's most active logistics corridors, with direct access to the A1 motorway connecting London and Edinburgh. Long-term, triple-net lease with built-in rent growth: The facility is triple-net leased for a period of 13.5 years with fixed rent increases.