Hines, the international real estate firm, announced today that a lease has been signed with UniCredit, a major international financial institution, for their new company headquarters in Porta Nuova, a major mixed-use development under construction in Milan. Tenancy is expected to begin in late 2012. Specifics of the anchor lease are not being disclosed at this time due to confidentiality provisions.
The Porta Nuova development is one of Europe's largest and most ambitious urban regeneration projects encompassing three areas: Garibaldi, Varesine and Isola. The new UniCredit headquarters will be directly adjacent to the Garibaldi train station, as well as proximate to Milan's Central Station, four subway lines and numerous other public transportation options. In addition, more than 4,000 parking spaces will be built under the development.
In total, Porta Nuova's master plan includes:
- 8 office towers totaling more than 1 million ft² of leasable area
- Regional and Municipal Headquarters totaling approximately 1.3 million ft²
- 400 plus residential units in several product types
- Retail, service, restaurant and exhibition spaces totaling approximately 400,000 ft²
- A 160,000-ft² hotel
- An enormous network of pedestrian and bicycling areas
- A new public park, one of the city's largest, as well as space dedicated for cultural use
UniCredit Group is a major international financial institution with strong roots in 22 European countries and an overall international network present in approximately 50 markets, with 9,600 branches and more than 162,000 employees as of 31 March 2010. In the CEE region, UniCredit Group operates the largest international banking network with around 4,000 branches. The Group operates in the following countries: Austria Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Germany, Hungary, Italy, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Turkey and Ukraine.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm's historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,111 properties representing more than 451 million square feet of office, residential, mixed-use, industrial, hotel, med