BNP Paribas REIM has acquired a brand-new logistics park in Vigasio, province of Verona, Italy. The transaction testifies to the renewed interest of international investors in large core logistics assets, and well-located in proximity to the main motorways.
The logistics hub consists of 88,000m² divided into two buildings: the first one of 56,000m², completed in Q4 2022 and the second one of 32,000m², recently completed in Q1 2023. Both buildings will be LEED Gold certified, confirming BNP Paribas' commitment to sustainability.
The real estate transaction, which started as a speculative project, registered almost full leasing of spaces during the construction period, demonstrating the strong market demand for modern logistics assets not always offset by an equal supply of product.
In 2022, in the Verona submarket alone, over 300,000m² of newly built logistics spaces were leased, representing approximately 12% of the national take-up.
