On June 25, 2024, Logicor and Kryalos Sgr announced the acquisition of a vast piece of land in Gaggiano, on the outskirts of Milan, covering over 175,000 square meters. The area, including approximately 100,000 square meters of the long-abandoned Solfosa plant, will be transformed into a logistics park starting in the fourth quarter of 2024. This initiative is managed through the Mazer fund, a closed-end real estate investment fund managed by Kryalos Sgr and participated in by Logicor.
The new logistics hub, aimed at further strengthening Logicor's presence in the Milan area, will be developed with a focus on sustainability, in line with Logicor's Acting Responsibly vision. Among the planned improvements, a new two-kilometer road, with an elevated bridge over the Naviglio Grande, will connect the logistics hub to the Nuova Vigevanese, enhancing the area's road network.
The Gaggiano site is located 30 kilometers from Linate Airport and 45 kilometers from Malpensa, near State Road 494-Nuova Vigevanese and just over four kilometers from Milan's Tangenziale Ovest, which links the city to major Italian highways such as the A1, A4, and A8. The building will be Breeam Very Good certified, adhering to high quality and sustainability standards. It will feature a photovoltaic system, LED lighting, charging stations for electric vehicles, and landscaping to better integrate with the surrounding environment.
"The new Gaggiano logistics park is a virtuous example of collaboration between companies and institutions," explains Graeme Hepburn, Country Manager Italy of Logicor. "Through this ambitious redevelopment project, on which our team has been working for five years, we will revitalize and add value to the area, improving its road network for the benefit of the entire community. This development aligns with our strategy of expanding in strategic locations to support the flow of goods for our clients."
For the acquisition of the Gaggiano land, Logicor and Kryalos Sgr collaborated with partners such as EY for tax and financial matters, JonesDay for legal due diligence and contract negotiation, Bertacco Recla as administrative lawyers, The Blossom Avenue for planning, Tea Consulting for environmental aspects, Majone & Partner as road engineers, and Progeca for project and construction management.
