Via Santa Margherita 3 office building in Milan fully let (IT)

Tishman Speyer announces that it has leased the last remaining floor of Via Santa Margherita 3 in Milan to the international law firm, Linklaters, meaning that the building is now 100% occupied.

Tishman Speyer completed a 14-month full refurbishment of the 12,300 m² building in December 2006. The works were completed on time and within budget.

The 2,600 m² Linklaters lease was achieved at a rental level reflecting the quality of the space and follows the 7,500 m² pre-let to Credit Suisse First Boston at the beginning of 2006. BPVN, the former sole tenant, agreed to reduce their occupation to 2,200 m² in 2005.

Massimo Grossi, Head of Italy for Tishman Speyer, 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."

This deal follows a successful 2006 during which Tishman Speyer leased over 125,000 m² in Europe, including significant amounts in markets still marked by high vacancy rates.

Cushman & Wakefield acted on behalf of Tishman Speyer.

Source: FD

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