DTZ Investors has signed FedEx for what it said is the US transportation, e-commerce and business services giant's largest road hub in Europe.
The real estate investment manager recently bought the logistics scheme on behalf of a South Korean institutional investor. The price paid has not been disclosed but is thought to be in excess of €110 million.
Tennessee-headquartered FedEx has signed for all of the 38,000-square-metre (409,000-square-foot) hub comprising two buildings in Novara, Italy.
DTZ Investors said the "highly energy-efficient" complex met its sustainable investment objectives by achieving a LEED GOLD award based on a Green Building framework.
Alessio Lopiccolo of DTZ Investors said in a statement: "We are delighted that our first acquisition in Italy involved this best-in-class distribution facility. The property benefits from being located in the sought-after Novara-Vercelli market and from top ESG credentials, and we believe it is well0positioned to perform strongly in the future. We look forward to further investment opportunities in Italy on behalf of our clients."
The site, located next to the A4 motorway, connects Turin to Venice, linking to the western hinterland of Milan and Malpensa International Airport so it is strategically located to serve the Italian and wider European markets.
Dils advised on the transaction for DTZ Investors.