Hines confirms development of logistics park in Verona

Hines has finalized a major investment in a new state-of-the-art logistics project in Verona, Italy, as part of a joint venture with a major international private equity player. The project is expected to require an investment of up to €300 million ($348 million) via the Vicus I fund managed by Prelios SGR.

The logistics park in Vigasio, in the province of Verona, will be developed over two phases. The first, requiring an investment of €120 million ($139 million), will lead to the construction of four buildings covering 200,000 square meters (2.2 million square feet) by 2023. The second will involve an investment of as much as €180 million ($209 million).

The Vigasio area is home to many major international companies and represents a strategic hub connecting Italy with Germany and Austria along the A22 Autostrada del Brennero. Later, an additional motorway exit is scheduled to open in front of the Vigasio logistics park, further maximizing transportation access a