PATRIZIA secures new cold-storage asset in Italy
PATRIZIA has acquired a newly built cold-storage logistics asset near Milan, Italy, from Savills Investment Management on behalf of PATRIZIA’s institutional clients.
The purchase was made through one of PATRIZIA’s flagship logistics funds.
The property is located in Casorate Primo, a municipality in Lombardy between the cities of Milan and Pavia. It is fully leased to Kühne & Nagel, a pan-European third-party logistics company, and Movi.Log Srl, a frozen-food distributor.
The 31,000-square-meter (x-square-foot) cold-storage asset was completed in the second quarter of 2021 and includes two photovoltaic plants for a total power capacity of 2.5 megawatts.
“Cold chain is an exciting area of logistics for Patrizia to be involved in,” said Rob Brook, head of alternative investments and head of logistics at PATRIZIA. “Demand is predicted to grow steadily in the next few years, especially due to a growing need for reliable supply chains for biopha