GLP today announces the acquisition of a newly built property in Inveruno, in the province of Milan, and of a piece of land in Landriano, in the province of Pavia. The combined portfolio has a Gross Leasable Area of 39,000 SQM.

The property in Inveruno is located in the prime logistics market of Milan and has easy access to essential road junctions in the area, including the A4 to Inveruno and A1 to Landriano. It is also a short distance from Milan’s city center. The property, built in 2023, is currently leased to ALS, one of Italy’s largest logistics operators. It has a total area of 22,000 SQM, including 1,000 SQM of office space, and it has been certified BREEAM Very Good.

The Landriano site has a total area of 55,000 SQM, and there are plans to develop a logistics warehouse of 17,000 SQM on behalf of GLP, with the general contractor Engineering 2K. The completion of the new building is scheduled for July 2024, with a BREEAM Excellent new construction certification – the highest ESG standard available on the market.

Marco Belli, Country Director of GLP Italy, commented: “The Italian logistics market has remained active throughout recent economic uncertainty, and we are excited to be growing our portfolio in the country, particularly in the strategic hub of Milan. These latest acquisitions show the positive trend of the market at the national level. This portfolio represents a compelling opportunity given its strategic location within the Milan logistics area and its strong sustainability certifications.”