22 July 2020
Good News Story - LCP Completes The Largest Pre let Logistics Development In Europe, And Announces Its Immediate Sale To DWS.
Logistics Capital Partners (“LCP”), a pan-European Logistics Development and Asset Management platform, announces the project completion and immediate sale to DWS’ real estate investment business.
The Logistics development known as the LCP Trecate XXL, is located in the province of Novara, on the west of Greater Milan and is a landmark European project in terms of size, environmental standards and also timing, given the recent global pandemic.
After completing other key Italian projects including Vercelli and Torrazza for Amazon, Logistics Capital Partners selected Trecate as the location for Italy’s largest new logistics hub in the province of Novara –due to its proximity to Milan and its location on the key Turin-Milan-Venice corridor.
The total project will be Italy’s largest new logistics park, with phase 1 totalling 5,500,000 sq ft (515,000 sq m).
The first two buildings were immediately pre-let to a top global luxury brands retailer in 2019, with long term leases for a new global distribution hub, totalling 1,750,000 million sq ft (162,000 sq m). Despite the Covid Pandemic, construction was completed by July 2020.
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