European logistics real estate investor Logicor and asset manager Kryalos SGR are jointly redeveloping a 175,000 m2 in Gaggiano, near Milan, Italy.

Gaggiano

Gaggiano

The project, starting in Q4 2024, will transform the abandoned Safosa area into a 100,000 logistics park with warehouses and adaptable workspaces. Through flexible design, the assets can be adapted for future customers.

The Mazer Fund, managed by Kryalos SGR with Logicor participation, acquired the strategically located land. The site boasts easy access to major highways and is close to both Milan airports.

A key element of the project is a new 2km road link with an elevated bridge, designed to improve traffic flow and minimize local disruption.

Features like solar panels, LED lighting, electric vehicle charging, and landscaping will contribute to a BREEAM Very Good environmental rating.

Graeme Hepburn, country manager at Logicor, said: ‘The new logistics park in Gaggiano represents a virtuous example of collaboration between companies and institutions. Through this ambitious redevelopment project, on which our team has been working for 5 years, we will be able to redevelop and restore value to the area, improving its traffic for the benefit of the entire community. This is a development as part of our strategy to expand into strategic locations while supporting the flow of our customers' goods.’

Gianluca Vairani, Kryalos SGR senior managing director of Transaction Management & Head of ESG, added: ‘Kryalos continues to invest in logistics, a benchmark asset class for the real estate market. The Gaggiano operation represents a complex process of urban regeneration with a strong focus on sustainability and is a perfect example of public-private cooperation that could be achieved thanks to the expertise, perseverance, and dedication of all parties involved.’

Logicor and Kryalos SGR were assisted by EY, JonesDay, Bertacco Recla, The Blossom Avenue, TEA Consulting, Majone & Partner, and Progeca.

Logicor recently completed several projects in the Milan region, including a new logistics hub in Lainate and a refurbishment project in Vignate.