CBRE Investors to deliver 40,000 m[sup]2[/sup] of offices in Milan

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.