AXA IM - Real Assets has completed the acquisition of an office building located in Viale Sarca in Milan, Italy, for €22m. The c. 14,200m² office building comprises 10 above-ground floors and two basement levels in addition to a 114-space underground car park. Located in the Bicocca Business District, one of the most dynamic office districts in Milan, the building benefits from a close proximity to a metro station, which links Bicocca with Milan’s city centre and the major Porta Garibaldi train station.
The building will be fully refurbished, with the aim of enhancing its quality to Grade A standard and to achieve a LEED Certification. Delivery is expected in Q1 2020, following which the completed property will be marketed to prospective new tenants.
