Segro seals new logistics real estate deals with Ikea and Zalando

In the first quarter of this year Segro, a UK real estate investment trust and owner, manager and developer of more than six million square metres of logistics real estate for light industrial distribution activities across Europe, signed new rental agreements with two leading retailers: Ikea in France, and Zalando in Italy.

For Ikea, Segro arranged the lease of a total of 63,000 square metres of logistics space in the new ‘Paris AIR2 Logistique’ multi-level BREEAM Excellent facility at Port de Gennevilliers, France’s largest river port. “This agreement means that all the space in this new facility is leased 11 months before the building’s completion, which underlines the scale of the demand for logistics real estate in Europe’s major cities,” comments Tijs Derison, director of Segro Benelux. “One effect of this high demand is rising interest in multi-level facilities. New real estate concepts are becoming ever-more important in view of the growth in e-commerce and the increasing scarcity of logistics space close to big cities.”

Through its subsidiary Vailog, Segro is constructing a facility of over 130,000 square metres in Nogarole Rocca, Verona, Italy. Online fashion retailer Zalando has already signed up to lease the building, and the facility is being adapted in line with the client’s specific needs. Thanks to direct access to the A22 and A4 motorways, the building is ideally situated to serve as Zalando’s distribution centre for the entire southern European market. The retailer estimates that this facility will create around a thousand new jobs in the medium-long term.