Vailog Logistics, Magenta, Milan, Italy
Vailog Logistics, Magenta, Milan, Italy
Location: Cannstatter Carreé, Stuttgart, GermanyVailog Logistics, Magenta, Milan, Italy
Size: 11,000 sq m
Sector: Logistics
Rationale for Purchase:
Project 1 in Magenta (c. 45,000 sqm) is a high quality cross docking facility fully pre-let to chocolate manufacturer Lindt on a 12+6 years lease, and now complete. Lindt benefit from a four-year option to extend the building by c. 11,000 sq m, expiring mid 2010.
Project 3 in Rovigo (c. 40,000 sq m) was completed in November 2008 and fully-pre-let to BSL, a third party logistics provider, on a 6+6 year term in accordance with Fund’s underwriting and market rental levels.