Savills Investment Management (Savills IM) has purchased an additional last-mile distribution centre in Brescia, Italy.
The Brescia asset, strategically located along the Milan-Venice highway, is a brand new last-mile facility in the city semicentre, with 80 docking bays across 5,200 sqm.
It is the fourth acquisition for the fund and has been fully let to a prime Italian e-commerce courier on a long-term lease.
“As of today, Savills IM’s exposure to the Italian logistics sector has exceeded EUR 400 million gross development value. In the last 24 months we have rapidly grown our logistics portfolio via new core and value-add opportunities within a resilient and fast-evolving sector, and have the appetite for further logistics transactions in the future,” said Cristiano Ronchi, Head of Italy, Savills IM.
Savills IM has also completed the full lease-up of a logistics centre in Melzo, east of Milan, on behalf of the ABAF European Real Estate – Italy fund, spanning c. 30,000 sq m, which was vacant since the beginning of 2020. The new tenant, German third-party logistics operator Rhenus Logistics SpA, will commence operations in January 2021.