Prologis expands space in Castel San Giovanni

Logistics space provider Prologis said on Thursday that it has acquired 25.707 m² of distribution space within the Vailog Park in Castel San Giovanni, near Piacenza, from Italian developer and investor Realty Vailog. The investment amount was not disclosed.

'The decision to acquire this space is part of our strategy to boost our presence in this region to better serve our clients,' said Pascal Luciani, managing director of Prologis Italia. 'The area surrounding Piacenza is one of Italy's largest logistics areas.'

Prologis started the development of a logistics park In Castel San Giovanni in 2005, which should be completed by the end of this year. The company, which invested EUR 43mln in the development, said last month it had leased 25.750 m² of space in the park to French logistics firm ND Logistics. The park is located within an area with more than 290.000 m² of logistics space. In a statement, Prologis said it is seeking several investment opportunities in the central-northern part of Italy and anticipated that it will start building new logistics centres in the country by the end of the year.

Prologis currently operates about 730,000 m² of distribution space in Italy, located mostly in the areas of Milan, Bologna, Padua, Turin and Rome. It clients in the country include Ceva Logistics, NYK, Geodis and ND Logistics e Indesit Group e COOP.

In June, the company bought a 150,000 m² plot of land in northern Italy for the development of Prologis Park Bologna.