LONDON--Tritax Big Box REIT PLC (BBOX.LN) said Monday that it has acquired a regional distribution center of Tesco PLC (TSCO.LN) for 47.1 million pounds ($71.99 million), net of acquisition costs.

The distribution center is located at Capitol Park in Goole, England. Tritax funded the purchase out of equity proceeds, with senior debt finance expected to be introduced in the near term.

The center is being acquired with an unexpired lease term of 17.5 years and is subject to five yearly upward only open market rent reviews. The next rent review is due in 2.5 years.

Completion of the sale is expected to take place by June 5.

Shares of Tritax at 0712 GMT trading 0.2% lower at 116 pence.

Write to Tapan Panchal at tapan.panchal@wsj.com

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