CBRE Global Investor’s logistics platform, which acquired over €855 million of European logistics assets in 34 deals across nine countries last year, has now bought a 36,246 sq m fully let logistics asset in Bologna in the Emilia Romagna Region, Italy.
The asset, Anzola, which has been acquired on behalf of an European separate account client is fully let to two tenants: Conad, the major Italian supermarket food chain; and Unilog, the Italian third-party logistics provider active in the food distribution sector.
Bologna is the second largest logistics market in Italy and there is currently no vacant Grade A space in the municipality and limited supply in the pipeline owing to restrictions on development according to CBRE GI.
“This was a rare opportunity to acquire a fully-let Grade A logistics asset in an attractive market with great potential,” said head of transactions Italy Alberico Radice Fossati. “The demand for well-let, high-quality logistics assets has increased significantly in recent years, particularly in light of the pandemic.”
CBRE Global Investors logistics portfolio had an AUM of €11.3bn at the end of 2020, and lettable space of 7 million sq m across 11 countries.