LCP and AEW developing major Amazon shed in Italy

LCP secured the site just south of the prime northern A4 corridor between Turin and Milan, benefitting from access to Milan Malpensa Airport to the east, and the international port of Genova to the south.

The building is pre-let to Amazon, and will accommodate a major new 100,000 m2 fulfilment centre, making it one of the largest logistics buildings to be developed in Italy.

'I am very proud to be able to serve a customer such as Amazon, they are at the forefront of the sector and have the highest of standards. It is an honour to be entrusted with such a significant project,' commented Andrea Benvenuti, managing director development and construction, LCP.

Construction of the development is underway, and with the first columns raised into position, completion of the project phase is expected in the third quarter this year.

The scheme will be funded in a new partnership with AEW’s Logistis fund, which has a target GAV of more than €3 bn.

'This development is precisely in line with the strategy we had when we created the business, to serve the evolving development needs of leading corporate occupiers everywhere in Europe, and partner with leading institutional investors such as AEW,' said Kristof Verstraeten, managing director, LCP.

'Through this high-quality development project with Amazon and LCP, Logistis is expanding its Italian footprint. We look forward to further developing our fruitful partnership with both companies, both in Italy and beyond, as we continue to grow the LOGISTIS platform across European markets with the objective to reach a portfolio size of more than €3 bn,' commented Ludovic Bernini, Logistis deputy fund manager, AEW.

'It has been impressive working with the Logistis team on such a large and complex project. We have a huge amount of respect for their professionalism and capabilities, and we are looking forward to building on this success with further announcements in the new year,' concluded James Markby, managing director, LCP.