Kajima and Panattoni have expanded their ongoing partnership by acquiring their first site in Milan, Italy. Located in Ospedalletto Lodigiano, 30 minutes from Milan City Centre, the proposed development will create 15,000 sqm of Grade A logistics space.
The acquisition follows Kajima’s expansion plans across Europe, with the portfolio now boasting logistics developments across France, Spain, Poland, Czech Republic, Netherlands and Germany. Entry into the Italian market offers capital growth driven by the under supply and high demand for Grade A logistics warehouses. As part of Kajima’s ESG strategy, the development will be constructed to BREEAM ‘Very Good’ standard, guaranteeing high sustainability throughout the complex.
Daniel Bumpstead, Head of European Investments at Kajima said: “Italy is a key market in our European expansion plan due to its undersupply of grade A warehousing juxtaposed by growing tenant demand. We’re therefore delighted to partner with Panattoni and grow our European development pipeline.”