GLP acquires site for 91,500 SQM Grade A warehouse in Valsamoggia (BO)
GLP, a leading investor and developer of logistics warehouses and distribution parks, announced today that it has acquired a site in the municipality of Valsamoggia (BO), to develop a Grade A warehouse facility with a total leasable area of 91,500 SQM. This important acquisition marks the first development for GLP in Italy and is part of the company’s ongoing plan to expand its presence in the country.
Construction of the new facility is due to start in Q3 2022. The warehouse facility will benefit from the highest quality ESG standards, incorporating not only environmental but also social aspects, and aligning the development with community standards of environmentalism.
G-Park Valsamoggia is located within the Bologna logistics area, one of the most important logistics markets in Italy, with close proximity to Bologna city center. The park has excellent connections to the surrounding transport links and is strategically located on the A-1 motorway, which links Northern and Southern Italy, one of the most important Italian transport axes. In addition, it is also located very close to the intersection of the A-13 and A-22 highways, directly connecting the site to three of the major logistics locations in Italy: Milan, Padua and Veneto Corridor, and Rome.
Roberto Piterà, Country Director of GLP Italy, commented: “This acquisition marks a great achievement for GLP; we have succeeded in acquiring one of the most attractive plots in the Italian logistics market. After a record year of activity in 2021, with more than €500m of acquisitions, Valsamoggia not only marks our first development in Italy but is also the first of many development projects in our pipeline. We see significant demand for Grade A assets in the market, driven by e-commerce increasing the importance of logistics real estate in supply chains, and we plan to expand our portfolio to offer the best locations and allow us to better support our customers.”
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