US property company Tishman Speyer has leased the last remaining floor of Via Santa Margherita 3 in Milan to the international law firm Linklaters. Tishman Speyer completed a 14-month refurbishment of the 12,300 m[sup]2[/sup] building in December 2006.
US property company Tishman Speyer has leased the last remaining floor of Via Santa Margherita 3 in Milan to the international law firm Linklaters. Tishman Speyer completed a 14-month refurbishment of the 12,300 m2 building in December 2006.
The 2,600 m2 Linklaters lease follows the 7,500 m2 pre-let to Credit Suisse First Boston at the beginning of 2006. BPVN, initially the sole tenant, agreed to reduce its occupancy to 2,200 m2 in 2005. The building is now 100% let.
Massimo Grossi, head of Tishman Speyer's Italian office, commented: 'This project demonstrates that there is a real demand for high quality office space, of which there is a scarcity in the Italian markets. Tishman Speyer recently opened its first office in Milan and the team is actively looking for investment opportunities in the major commercial centres of Italy.'
Tishman Speyer said it leased over 125,000 m2 in Europe last year, including 'significant amounts in markets still marked by high vacancy rates'. Property advisor Cushman & Wakefield acted for Tishman Speyer.