1.14 million sqm of warehouses change hands
Last mile operator Crossbay is outsourcing its warehouses. The portfolio comprises 128 logistics properties and six new sites under development. The buyer is Prologis, a global player in the logistics real estate industry.
With the acquisition, Prologis will add a total of 1.14 million sqm of space to its European portfolio. The transaction, valued at almost EUR 1.6 billion, is being carried out on behalf of the Prologis European Logistics Fund (Pelf).
The acquired properties form a European network with locations in Rome and Milan, Amsterdam and Rotterdam, Madrid and Barcelona, Nuremberg and Berlin, Paris, Brussels, and Lodz. Due to their proximity to major city centres, about 85% of these new properties can serve regions with more than one million inhabitants within about 30 minutes. The spaces are 95% leased and add more than 100 new clients to Prologis' portfolio. (cd)