CBRE Global Investors has purchased three new Grade A logistics assets in Turin, Italy from DeA Capital Real Estate SGR S.p.A. on behalf of its European Industrial Fund (EIF).
The three assets offer a total GLA of 156,300 sq m, including a 60,300 sq m warehouse that is fully let to an international tyre brand on a 10-year lease and an adjacent 80,800 sq m warehouse that was developed on a speculative basis.
The final asset is a 15,300 sq m warehouse within S.I.TO Turin Interporto, that is let to a third-party logistics provider on a 12-year lease.
CBRE Global Investors said all three logisitcs assets are well visible and easily accessible within the Turin market.
”In addition, Turin is part of European Corridor 5, which connects Lisbon to Kiev, and benefits from close proximity to Corridor 24, which connects Genova with Rotterdam,” said in a press release.
“This acquisition represented a unique opportunity to acquire a portfolio of high quality and strategically located assets. While Italy has seen significant growth in e-commerce over the course of the pandemic, it still lags other European countries and we are confident that there remains significant upside for growth in this market. To have secured assets of this calibre is not only a strong endorsement of the strength of our team in Italy, but also of our logistics platform more generally,” said Laurie Lagarde, Fund Manager, European Industrial Fund at CBRE Global Investors.