Hines, Allianz to build logistics facilities in Milan

Hines and Allianz Real Estate have finalized an €80 million ($87 million) investment in the Urban Mile fund managed by Blue SGR. The investment sees the acquisition of 110,000 square meters (1.2 million square feet) of brownfield land in Via Rubattino in Milan for the construction of an innovative logistics hub designed for last-mile deliveries and electric mobility.

The new facility will be one of the largest logistics platforms for the city of Milan and will be built during the next 36 months. Located in a strategic position, it is near the eastern ring road, Linate airport and Segrate intermodal terminal, which connects Italy with Northern Europe, including Germany, Belgium and The Netherlands, and Southern Italy.

The logistics facility will play a key role in supporting e-commerce-related deliveries as the need for loading bays near urban areas grows. As a result of having an integrated system, it will become crucial in integrating heavy goods vehicles into loc