Logistics Capital Partners (“LCP”), a leading pan European logistics specialist providing project development and asset management services for logistics real estate in Europe, continues its expansion across Europe by announcing the signing of a significant new development for Amazon, and a new funding partnership with AEW’s LOGISTIS fund.
Located in Italy, the site was secured from the municipality of Vercelli by LCP, and is situated just south of the Prime Northern A4 Corridor between Turin and Milan, with easy access to Milan Malpensa Airport to the east, and the international port of Genova to the south.
The building is pre-let to Amazon, and will accommodate a major new fulfilment centre, totalling over 100,000 sqm (1,140,000 sq ft) of highly specified modern warehouse, making it one of the largest logistics buildings to be developed in Italy. Construction of the development is underway, and with the first columns raised into position. Completion of the construction phase is expected in the third quarter this year.
Ludovic Bernini, LOGISTIS Deputy Fund Manager, AEW, said “Through this high-quality development project with Amazon and LCP, LOGISTIS is expanding its Italian footprint. We look forward to further developing our fruitful partnership with both companies, both in Italy and beyond, as we continue to grow the LOGISTIS platform across European markets with the objective to reach a portfolio size of more than €3 bn.”