Larry Smith signs two important management contracts (IT)

Larry Smith Italia has been appointed property manager of two prestigious Italian shopping centers: [8] Gallery in Turin and Romaest in Rome.

[8] Gallery Shopping Centre, in Turin, has a total g.l.a. of nearly 21,000 m². It is located in one of the most historical Italian buildings, the Lingotto, formerly occupied by the first Fiat factory. It is integrated into a multifunctional framework, being characterized by the presence of offices, two hotels, university and a fair center.

This shopping center, which opened in April 2002, is basically an urban centre that includes about 90 retail units and services. Larry Smith will be the property manager on behalf of the Owner, a company belonging to ING, dealing with both condominium charges and promo and advertising activity. Larry Smith had already been involved in the project both in the phase of the creation of the mix and concept and as exclusive leasing agent.

Romaest, measuring 100,000 m² g.l.a. and thus being the largest shopping centre in Italy, will open at the beginning of Autumn this year. Romaest will include a Panorama Hypermarket, a Vis Pathé multiplex, 11 MSU and more than 200 units.

Larry Smith has carried out also the market studies, the definition of the commercial concept and has leased the mall on behalf of Gemma srl, i.e. the Developer.
Also in this case, Larry Smith will take care of the property management on behalf of the Owner as well as of the management of condominium charges and promo and advertising activities.

"These two prestigious mandates" – highlights Christian Recalcati, Partner & Managing Director of Larry Smith Italia – "confirm the focus of our company on the management of shopping center of important size and playing a primary role in the relevant commercial scene."
With the management of these two shopping centers, the shopping centers managed by Larry Smith rise to 10, 5 of which have a g.l.a. above 40,000 m²; they now total 457.000 m² of managed g.l.a. and more than 950 retail shops.

Source: Larry Smith

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