PAULLO, Italy—Prologis, Inc. says its Prologis European Properties Fund II (PEPF II) has acquired from Sireo Immobilienfonds No. 4 a 430,500 square-foot (40,000 sm) logistics facility in Paullo, near Milan.
The building on Strada Vecchia Paullese is located in the eastern section of the Province of Milan. The area is undergoing significant infrastructure development and offers excellent connections to main national routes via TEEM, the new Milan bypass, and BreBeMi, the new highway from Milan-Brescia.
“The acquisition of the Paullo facility is part of Prologis' focus on building presence in core, long-term markets and marks our first acquisition in Italy for several years,” said Sandro Innocenti, vice president, country manager, Prologis Italy. “Thanks to TEEM and BreBeMi, the area east of Milan is becoming attractive to logistics companies.”
Prologis owns and manages approximately 8.4 million square feet (780,000 sm) of distribution space in Italy as of June 30. Prologis logistics parks are located in the Milan area (Lodi, Novara, Piacenza, Castel San Giovanni, Cornaredo, Area Po, Cortemaggiore); Pavia (Siziano); Turin (Trofarello, Settimo Torinese); Bologna (Interporto, Castel San Pietro); Padua; and Rome.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
