Key Takeaways
- • Bain Capital and Stoneweg joint venture nearing practical completion of 45,000 sqm speculative Grade-A logistics development in Agliana, Tuscany, with delivery targeted for Q3 2026.
- • Asset comprises two warehouses: a 33,000 sqm primary unit (divisible into two sections with 46 loading bays and cross-docking capabilities) and a 12,000 sqm standalone unit designed for multiple operational requirements.
- • Development positioned to achieve LEED Gold certification with integrated energy efficiency measures, reflecting the joint venture's ESG commitments and meeting institutional investor sustainability criteria.
- • Strategic location 25km northwest of Florence with direct access to A1 and A11 motorways connecting to major Italian markets and broader European logistics networks; Florence metropolitan area has nearly 1 million residents.
- • This Tuscany asset is one of six Grade-A logistics warehouses the JV forward-purchased from developer VLD for €200 million in 2025, totaling 225,000 sqm across Florence, Rome, and Bologna, with full delivery by 2028.
Summary
Bain Capital and Stoneweg's joint venture is approaching practical completion of a 45,000 square-meter speculative logistics development in Agliana, located in the heart of Tuscany's industrial corridor. The project represents a key component of the partnership's broader Italian logistics expansion strategy, which encompasses six Grade-A facilities totaling 225,000 sqm acquired under a €200 million forward-purchase agreement with developer VLD in 2025. Delivery of the Agliana scheme is expected by the third quarter of 2026.
The development is structured as two distinct warehouse units optimized for diverse operational requirements. The primary facility spans approximately 33,000 sqm and incorporates divisibility into two smaller units, offering customizable space alongside cross-docking capabilities and 46 loading bays—features aligned with modern third-party logistics (3PL) and regional distribution requirements. A secondary standalone warehouse totals 12,000 sqm, providing additional operational flexibility. The specification reflects contemporary e-commerce and supply-chain distribution standards prevalent across European logistics markets.
Sustainability credentials are integral to the project design. The joint venture has incorporated energy efficiency measures throughout the development, positioning the asset to achieve LEED Gold certification—a certification tier that enhances long-term institutional investment appeal and aligns with ESG mandates increasingly embedded in large-scale real asset acquisitions. This sustainability positioning is consistent with broader commitments the partnership has embedded across its Italian logistics platform.
The Agliana location offers significant logistical advantages within Italy's primary distribution network. Positioned 25 kilometers northwest of Florence—a metropolitan region with nearly 1 million residents—the site benefits from proximity to the A1 and A11 motorways, which serve as key arterial routes connecting to major Italian markets and facilitating Pan-European distribution flows. This geographic positioning enhances tenant demand from operators requiring access to central Italy's manufacturing base and broader Mediterranean markets.
To support leasing commercialization, the joint venture has appointed Dils and World Capital Group (WCG) as joint agents. Dils, established in Italy in 1971 and operating regional offices across the Netherlands, Portugal, and Spain, brings market leadership in logistics, office, retail, and hospitality sectors. WCG, an Italian real estate consulting and brokerage firm with over two decades of institutional investor experience, will provide tailored capital markets solutions. This dual-agent appointment reflects the scale and institutional nature of the transaction pipeline.
The development is structured as two distinct warehouse units optimized for diverse operational requirements. The primary facility spans approximately 33,000 sqm and incorporates divisibility into two smaller units, offering customizable space alongside cross-docking capabilities and 46 loading bays—features aligned with modern third-party logistics (3PL) and regional distribution requirements. A secondary standalone warehouse totals 12,000 sqm, providing additional operational flexibility. The specification reflects contemporary e-commerce and supply-chain distribution standards prevalent across European logistics markets.
Sustainability credentials are integral to the project design. The joint venture has incorporated energy efficiency measures throughout the development, positioning the asset to achieve LEED Gold certification—a certification tier that enhances long-term institutional investment appeal and aligns with ESG mandates increasingly embedded in large-scale real asset acquisitions. This sustainability positioning is consistent with broader commitments the partnership has embedded across its Italian logistics platform.
The Agliana location offers significant logistical advantages within Italy's primary distribution network. Positioned 25 kilometers northwest of Florence—a metropolitan region with nearly 1 million residents—the site benefits from proximity to the A1 and A11 motorways, which serve as key arterial routes connecting to major Italian markets and facilitating Pan-European distribution flows. This geographic positioning enhances tenant demand from operators requiring access to central Italy's manufacturing base and broader Mediterranean markets.
To support leasing commercialization, the joint venture has appointed Dils and World Capital Group (WCG) as joint agents. Dils, established in Italy in 1971 and operating regional offices across the Netherlands, Portugal, and Spain, brings market leadership in logistics, office, retail, and hospitality sectors. WCG, an Italian real estate consulting and brokerage firm with over two decades of institutional investor experience, will provide tailored capital markets solutions. This dual-agent appointment reflects the scale and institutional nature of the transaction pipeline.
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