Fortress to buy the old Pick n Pay distribution centre for R500m
The fund will sell the bigger warehouse facility to the Dis-Chem group and lease the other facility
01 August 2023 - 19:02
Fortress Real Estate Investments is buying Pick n Pay’s former distribution centre in Longmeadow in Gauteng for R500m.
Pick n Pay took occupation of its new Eastport distribution centre from Fortress on June 1 on a 15-year triple net lease, which means it will pay all the running costs of the property, including maintenance, security, rates and taxes...
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