en.Wedoany.com Reported - Sunrise Real Estate has announced the full lease of its 62,500-square-meter property in Rugby, UK, to ID Logistics UK, a subsidiary of the international contract logistics group ID Logistics, which has been expanding its operations since entering the UK market in 2023.

Stuart Evans, Managing Director of ID Logistics UK, stated that the acquisition of this site marks another significant milestone in the company's expansion in the UK. According to Sunrise, the site will serve as an e-commerce order fulfillment center for a major global online retail client.

The property has a somewhat turbulent history. Sunrise acquired the asset from clothing brand Gap in September 2022, following Gap's decision to cease its European operations. Sunrise then undertook a comprehensive renovation of the warehouse to re-lease it to new standards. The renovation was completed in 2023 and the property was delivered to supermarket chain Sainsbury's. However, just two years later, as part of its logistics network restructuring, Sainsbury's began seeking a subtenant or assignee for the entire lease.

Jenny Wang, Operations Director at Sunrise Real Estate, stated that through a comprehensive renovation plan, the company repositioned the asset to meet the evolving requirements of modern tenants in areas such as sustainability and operational efficiency. This enabled the company to quickly secure a new high-quality tenant for the asset after the original tenant decided to terminate the lease.

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