Dils Advises Sale of Giovi Logistics Park, 83,000-Sqm Complex in Silvano Pietra

Real estate advisory firm Dils has advised the sale of Giovi Logistics Park, a logistics complex of more than 83,000 square meters located in Silvano Pietra, in the Province of Pavia, Lombardy, roughly 60 kilometers south of Milan. The seller was GARBE, together with Prelios SGR, and the buyer was an international institutional investor whose identity was not made public.

Property and Transaction Details

Giovi Logistics Park is a warehouse and distribution facility completed in approximately 2024, making the September 2026 transaction just over two years after the park's inauguration. The complex was fully occupied at the time of sale. The property was developed on a decommissioned and remediated industrial site, a characteristic that has drawn increasing attention from institutional buyers seeking modern logistics stock without the environmental footprint of a new greenfield development.

The park's location in the Pavia area provides access to the broader Milan logistics and consumption market while offering a lower-cost setting than the core Milan metropolitan area.

For GARBE and Prelios SGR, the transaction represents an exit from a recently completed development following full lease-up of the park. For the buyer, the acquisition provides exposure to a stabilized logistics asset without development, lease-up or construction risk.

Italian Logistics Market Context

The transaction comes as Italy's logistics and industrial market continues to attract institutional capital. Industrial and logistics take-up in Italy reached approximately 860,000 square meters in the first quarter of 2026, an increase of roughly 78% year over year, while investment in the sector totaled around fffd430 million in the same period. Separate research put first-quarter take-up at approximately 811,000 square meters and logistics investment at about fffd410 million, with the difference reflecting varying research methodologies.

Prime logistics rents in Milan and Rome stood at approximately fffd70 per square meter per year in the first quarter of 2026, while prime yields were in the range of 5.25% to 5.30%. National vacancy was estimated at between approximately 5% and 7.3% depending on geography and methodology, with the higher figure reflecting new project completions in recent quarters. More than 300,000 square meters of new logistics space was completed in Italy in the first quarter of 2026, with more than 30% built speculatively.

Demand Concentrated on Grade-A Assets

Market observers have characterized 2026 as a consolidation phase for Italian logistics real estate, with demand concentrated on modern, high-quality assets in well-located submarkets. Improving financing conditions have supported the return of core institutional capital to the sector, and vacancy is expected to decline as speculative development becomes more selective.

Giovi Logistics Park's profile — recent construction, full occupancy and a remediated-site origin — aligns with the characteristics that institutional buyers have prioritized in the current environment. The Silvano Pietra location, situated within the broader Milan catchment area, positions the asset within one of Italy's most active logistics corridors.

About Dils

Dils is a commercial real estate advisory firm active in the Italian market. The firm acted as advisor on the seller's side in the Giovi Logistics Park transaction.

Sources

• Dils — Dils advisor in the sale of Giovi Logistics Park