X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PADOVA-Cosecon, a business consortium that promotes the development of industrial projects in northeastern Italy has sold 70 acres south of here to publicly traded ProLogis, the Denver, CO-based worldwide developer and owner of distribution space. The land will hold 1.5 million sf of facilities that ProLogis plans to spread among six buildings, the first of which will be ready for occupancy late next year and contain 215,280 sf. ProLogis Park Padova will be located approximately 19 miles south of Padova, near the town of Vescovana in the Veneto region, which ProLogis officials say features some of the highest manufacturing productivity rates in the Western Europe. In addition, the region is a key link between north and central Italy and northern and eastern Europe. The park will be located close to the A4 on the Corridor 5 and will be connected to the rail line linking Bologna and Venice. ProLogis VP Alexandra Lopes, vice president of ProLogis, states in a company announcement that the land acquisition provides entry into a new market for ProLogis within Italy, where its completed facilities are 100% leased. The purchase price for the land has not yet been revealed. In July, ProLogis announced a build-to-suit agreement with NYK Logistics, an international third-party logistics company, for 355,804 sf in ProLogis Park Romentino, located 22 miles West of Milan. In addition to the build-to-suit, ProLogis also will develop three additional facilities totaling 861,000 sf and complete the buildings before the end of next year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.