StockMarketWire.com - Logistics real estate company Tritax EuroBox said it had acquired a €49.65 million asset in Piacenza, Northern Italy, part of a major logistics hub.

The property comprised a modern logistics warehouse arranged as two units (DC4 and DC5) constructed in 2016 and 2020 with a total gross internal area of 47,800 sqm.

'The units are let on two separate leases to OVS SpA, an Italian fashion brand which uses the property as its European distribution hub,' the company said.

'The lease on DC4 is for a further 8 years and on unit DC5 for 9 years.'

The gross annual rent of €2.01 million reflected an average of €44 per sqm which is below prevailing headline rents of €47 per sqm, it added.


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