Cromwell Property Group has completed, on behalf of Cromwell European REIT (CEREIT), the acquisition of six fully-leased light industrial and logistics assets totaling €126.1 million ($133 million) and 192,112 square meters (2.1 million square feet) of gross leasable area across Germany, Italy, the Netherlands and the United Kingdom.
The assets are:
Vittuone, a 63,221-square-meter (690,505-square-foot) freehold, light industrial/logistics asset located 25 kilometers (15 miles) west of Milan’s city center. The asset is situated on a 99,760-square-meter (1.1 million-square-foot) site with future redevelopment potential for urban logistics use. It is fully leased to ABB, a Fortune 500 company.
Bialetti Headquarters, located in Coccaglio, Italy, is two buildings with 44,644 square meters (480,544 square feet) of total leasable area on a 74,533 square-meter (802,267-square-foot) site. The freehold light industrial/logistics asset sits approximately 72 kil
