The logistics real estate market is experiencing a period of significant expansion. The strength of demand, which in the first half of 2021 resulted in record take-up, and the scarcity of high-quality product, are pushing investor interest towards speculative developments and encouraging them to explore new markets. Alongside the traditional and consolidated geographical areas of Milan, Piacenza and Bologna, Veneto - one of the richest and most innovative industrial areas in Italy - has seen growth in real estate investments and schemes.
In particular, in the last three years the ’Greater Padua’ submarket has attracted the interest of many institutional investors and primary logistics operators. In this strategic area, between Padua and Rovigo, GVA Redilco acted as advisor in the sale of a Grade A logistics asset in Villamarzana (RO).
Deka Immobilien Investment GmbH, on behalf of the German open-ended real estate fund ’Deka-ImmobilienEuropa’, has sold a modern 45,000 sqm warehouse to Eurozone Logistics Fund (ELF), managed by BNP Paribas REIM, thus strengthening its logistics portfolio in Italy by acquiring a building of great value and income generating potential.
In a key location thanks to the A13 motorway connection, the asset is fully let to Geodis, a French multinational belonging to the SNCF group, operating in the freight, shipping and logistics sector and ranked among the Top 50 Global Third-Party Logistics Providers.