GVA Redilco acted as Landlord's Representative to the new owner, Patrizia AG, for the letting of the two central units of the logistics Grade “A” warehouse located within Verona Logistics Park, in Oppeano.
The 25,000 sqm will be ready over the upcoming days to one of the main Italian logistics player, also active at European level, and specialized in strategic and highly qualified sectors.
Verona Logistics Park is composed by n. 4 Grade A logistics warehouses, with a clear height under beam of 10.80 mt., NFPA/ESFR sprinkler systems, and large maneuvering areas. Three warehouses have already been leased and are entirely dedicated to logistics and distribution activities, for a total area of over 105,000 sqm. Currently under construction, with an hand-over expected by the end of this year, the last warehouse of 80,000 square meters that can be split into smaller units of ca. 10,000 sqm each.
The Verona Logistics Park, confirming expectations when construction started just a year and a half ago, is today one of the largest and most modern logistics park in Northern Italy.
For the logistics real estate market, the first quarter of 2020, has been partially impacted by COVID-19 containment measures, and saw a start in line with 2019; there was a good endurance in the sector which recorded a take-up of approx. 340,000 square meters, slightly less than the same period of the previous year when, however, a pre-let of 160,000 square meters was registered in a single transaction.
The main factor that contributed to this positive market trend was the growth of e-commerce which received a very strong boost from the health emergency and, in turn, increased the demand for last mile logistics assets , ready to use. In this context, the vacancy rate, shifting down only slightly to stand at 1.9%.
Logistics investments volume recorded a slight increase (+ 14%) compared to the same period of 2019.