Italy's Immobiliare Grande Distribuzione (IGD) has signed a preliminary agreement to acquire a commercial gallery in Peschiera Borromeo, near Milan, for EUR 80 mln. The gallery, currently under development, will provide some 17,000 m[sup]2[/sup] of commercial space as part of a shopping centre scheduled for opening in 2010. The mall is being developed by a company 15%-controlled by IGD.
Italy's Immobiliare Grande Distribuzione (IGD) has signed a preliminary agreement to acquire a commercial gallery in Peschiera Borromeo, near Milan, for EUR 80 mln. The gallery, currently under development, will provide some 17,000 m2 of commercial space as part of a shopping centre scheduled for opening in 2010. The mall is being developed by a company 15%-controlled by IGD.
The shopping centre will be anchored by an Ipercoop supermarket. IGD said in a statement that it will pay some EUR 30 mln in 2008, with the remainder being paid on completion of the project.
