Cromwell Property Group, Bain Capital team up to develop logistics warehouses in Tuscany
Cromwell Property Group and Bain Capital Special Situations have acquired a new plot of land for development of two modern class A logistics warehouses in the greater Florence area, adding to their growing portfolio in Italy.
Part of a series of planned developments by the two firms, this latest acquisition confirms their conviction in the Italian logistics market and their intention to continue taking advantage of the shortage in supply of logistics assets across Italy.
Designed to meet all modern class A logistics standards, and with the flexibility to accommodate up to four occupiers, the two assets will be developed on a 155,000-square-meter (1.67-million-square-foot) plot of land in Lari, an industrial and logistics cluster strategically located along the motorway connecting Livorno commercial harbor and Florence (35 mins from the A1 tollgate). The area is an established logistics hub that is home to many well-known logistics operators, including Amazon, SDA Expr