CBRE Investors plans to develop around 40,000 m[sup]2[/sup] of office space near Milan, Northern Italy, with completion scheduled for 2010-2011. The two new projects follow the development of CBRE Investors' flagship Affori Centre project in the city, which is scheduled for completion in September.

CBRE Investors plans to develop around 40,000 m2 of office space near Milan, Northern Italy, with completion scheduled for 2010-2011. The two new projects follow the development of CBRE Investors' flagship Affori Centre project in the city, which is scheduled for completion in September.

The new projects comprise a 30,000 m2 scheme within a business park in Segrate, and a 10,000 m2 property in Ortica, eastern Milan.

Christine Sonnier, managing director at CBRE Investors, said: 'We don't expect much office space will be delivered in Milan in the next two years, because many projects have been stopped. This seems like a good time for us.'

This week, the company launched the marketing of the Affori centre in Milan through advisers Cushman & Wakefield and Jones Lang LaSalle.
The building aims to achieve the first LEED green certification for an Italian office building. It will provide 12,000 m2 of office space, and a food court. The property is owned by CBRE Investors' Strategic Partners Europe II Fund.

CBRE Investors recently completed the redevelopment of a 14,000 m2 office complex at Milan Segrate and is now seeking new tenants for the building.