A 40,000 sq ft distribution warehouse in Peterlee has been bought by a private investment trust.
Acting on behalf of the Pemberstone Group, Blue Marble Asset Management has sold the freehold of 4 Traynor Way, Whitehouse Business Park following a four-year ownership period.
GT Emissions Systems, which designs and manufactures exhaust gas control valves for on and off highway vehicles, is the property's current tenant and is part of the recently-acquired GT Group.
The Peterlee warehouse was one of the first investment properties acquired by Blue Marble in 2011, shortly after the company was founded by chief executive Tim Matthews.
"This sale is the culmination of an extremely strong investment performance from a high quality property selected for its good property fundamentals," said Matthews.
Blue Marble Asset Management currently has more than £60m of property assets under management and works for a range of clients including investment businesses, high net worth individuals, trusts and family offices.