Logicor signs warehouse lease with Italian supermarket chain IN's Mercato
18 May 2015
Logicor, a leading owner and operator of modern logistics facilities in Europe, has agreed a new long-term 28,500 sqm lease with IN’s Mercato, the 340-store Italian discount supermarket chain at Logicor Logistics Park Alessandria.
Manel Vericat, Managing Director - Southern Europe, Logicor said:
I am delighted to establish this new customer relationship with IN’s Mercato. This is an example of where our proactive asset management strategy supported our client’s requirements. The Italian logistics market is picking up in line with economic improvements on the horizon which should bode well for our portfolio.
Moreno Fincato, Director of Real Estate Development, at IN’s Mercato added:
Logicor demonstrated a willingness to adapt their approach based on our specific logistics property and operational requirements.
Logicor Logistics Park Alessandria is strategically located in northern Italy between the major cities of Genoa, Milan and Turin as well as the wider Piedmont, Lombardy, Liguria and Emilia Romagna regions. The park comprises three buildings totalling 100,000 sqm. All are “Grade A” warehouses complete with National Fire Protection Association sprinkler systems and were built with low-environmental impact construction technologies. Existing tenants include freight handlers Arcese Group and container shipping companies Rivalta Spedizioni and Arco Spedizioni. After signing the IN’s Mercato lease, the park will be 75% occupied.
Logicor’s Italian logistics portfolio currently totals 500,000 sqm.
Logicor, Blackstone's European logistics platform, is one of the premier real estate companies in Europe focusing on the ownership and operation of modern logistics and distribution properties. Logicor currently owns in excess of 7.4 million square metres of space in properties across key markets in 12 countries.