Cromwell Property Group and Bain Capital have finalized a significant logistics leasing deal in Italy, marking one of the year's largest transactions in this sector. MVN Industrial Solutions, a prominent 5PL operator within the MSC Group, has secured a lease for 52,440 square meters of logistics space at the Pontedera Logistics development in Pisa. This 14-year lease was signed before the project's completion, highlighting the strategic importance of the location along the Florence-Pisa-Livorno motorway.

Pontedera Logistics represents the first speculative development in Tuscany's competitive logistics market, which is currently facing a shortage of grade A logistics space. This project is part of a broader initiative by Cromwell and Bain Capital to develop speculative logistics facilities across Italy. Their portfolio includes a nearly completed 55,000 square meter facility in Bari and a pipeline of additional projects, all designed with sustainability in mind and aiming for LEED Gold certification.

Michael Bohde, Head of Southern Europe at Cromwell, emphasized that this significant lease with MVN reflects their commitment to speculative development in Italy and their confidence in the logistics sector. He noted the ongoing demand for modern, sustainable logistics spaces in major Italian cities, which is expected to drive rental growth.

Rafael Coste Campos, a Managing Director at Bain Capital, echoed this sentiment, stating that their European real assets strategy aligns with the growing demand for logistics warehouses in Italy. He sees considerable growth opportunities in this sector.

In a related development, Cromwell recently entered a binding agreement with Stoneweg to sell its European fund management platform and associated co-investments, which encompass €3.8 billion in real estate assets. This transaction, valued at €280 million, is pending regulatory approvals and is expected to create a nearly €8 billion pan-European real estate management platform, merging two complementary businesses.