Office - Retail
Real estate complex located in Milan Porta Nuova between the UniCredit and Microsoft headquarters, both developed and managed by the COIMA platform.
COIMA RES acquired a 35.7% stake in the Corso Como Place complex in 2016. The complex is situated in Milan Porta Nuova and is adjacent to a major public transportation hub including the high-speed train station of Garibaldi and the metro line (MM2 and MM5 Garibaldi). The complex comprises two buildings: a high-rise tower and a low-rise building.
The strategy for the property complex is a combination of (i) Core + for the low-rise building with focus on the lease-up of existing vacant space with a limited capex investment and (ii) Value-add for the high-rise building including the redevelopment and leasing of the office space plus (iii) the creation of a retail area in the square adjacent to the two existing buildings.
The redevelopment of the high-rise building is currently underway with expected completion in the first semester of 2020. The Corso Como Place project will feature several cutting edge sustainable and innovative technologies, with implementation of Smart Building infrastructures and application of international sustainability certification such as LEED and WELL with extensive use of renewable energy sources. The project will also create a new public space in front of Tocqueville and the refurbishment of the streets connecting to Corso Como.