CTP has announced the creation of CTPark Castel San Giovanni, the company鈥檚 first branded logistics park in Italy, with a total planned size of nearly 200,000sqm.
The move by Europe鈥檚 largest listed owner, developer and manager of logistics and industrial real estate by gross lettable area follows the completion of a 52,000sqm build-to-suit facility for an international logistics operator, CTP said in a statement.
CTP entered Italy last year via the 鈧�241m acquisition of VLD, a development company holding a significant landbank in prime locations. The company added that the new logistics park formed part of CTP鈥檚 鈧�1bn investment plan for Italy, which will be rolled out over the next five years.
鈥淭he launch of CTPark Castel San Giovanni is an important milestone for CTP in Italy,鈥� said Agostino Emanuele, managing director of CTP Italy.
鈥淚t shows we are achieving what we set out to when we entered the country almost a year ago with the goal of developing and operating high-quality logistics assets tailored to the needs of our clients,鈥� Emanuele added.
Located in the province of Piacenza, south-east of Milan, the park sits within one of the most established logistics hubs in northern Italy, which is close to main motorway routes and the markets of Lombardy, Piedmont, Emilia-Romagna and Liguria, CTP noted.
In addition to the newly completed 52,000sqm facility, CTP said it was also developing a 113,000sqm build-to-suit building at the park for a client operating in the luxury sector, which it noted underlined the site鈥檚 growing importance as a logistics destination and the strength of occupier demand in the location.
Other new projects in CTP鈥檚 northern Italian pipeline include CTPark Alessandria, CTPark Novara Sant鈥橝gabio and CTPark Padova Vescovana, the firm added.
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