LaSalle Investment Management (“LaSalle”) has acquired Verona DC1, a fulfilment centre located in Verona, Italy, a centre of strategic importance connecting northern and southern Europe. The asset was acquired on behalf of Encore+, LaSalle’s flagship pan-European fund, from DeA Capital Real Estate SGR, through Fondo Logita, on behalf of SEGRO European Logistics Partnership (“SELP”).
The state-of-the-art e-commerce distribution hub was built in 2019 by Vailog (a SEGRO Group Company) and comprises a lettable area of 128,000 square metres split across a ground floor area, mezzanine spaces and office and service areas. Built to the highest environmental and technology standards, the hub achieved a DGNB Platinum level certification, which recognises the environmental, economic, sociocultural, functional and technical quality of assets.
The distribution hub is situated within the economic powerhouse belt of northern Italy, which serves as a strategic gateway to the southern European market. Located in Verona, the hub benefits from excellent links to road networks connecting to France and Austria, as well as access to the European route E45, the longest north-south route in Europe. Italy has the second largest manufacturing industry in Europe and its logistics market enjoys strong fundamentals and growth prospects, due to the expected doubling of e-commerce penetration in the country by 2024.
The asset is leased to the Italian subsidiary of one of Europe’s leading online fashion retailers. As a major market player, the company has demonstrated sustained commitment to the centre by installing advanced automation and sortation systems at the site, alongside agreeing a long-term tenancy agreement.
LaSalle was advised on this transaction by K&L Gates (legal), Studio Pirola (tax), JLL (buy-side advisory) and SPI Italia (technical and sustainability advice).
SELP was advised by Apollo & Associati (legal), Nephos and CBRE (technical), CBRE (sell-side advisory) and KPMG (tax).
Source: lasalle.com on the 14th of February
https://www.lasalle.com/company/news/lasalle-acquires-fulfilment-centre-in-verona-italy-on-behalf-of-encore