MILAN — Milan’s new sprawling Spiga 26 real estate has secured yet another luxury tenant: Kering will move its Italian headquarters from Via Mecenate to Spiga 26 early next year.
“We are proud to host such a leading global luxury group,” said Mario Abbadessa, senior managing director and country head of Hines Italy. “This agreement is particularly important to the development of Spiga 26, in terms of its positioning, project and business philosophy. Our mission is indeed qualified by an enduring commitment to the Italian market and the attractiveness of real estate projects carried out with a high attention to sustainability, viewed as a holistic approach involving all aspects of the property life cycle. Furthermore, for Hines this agreement represents a milestone and an important business achievement, given that in just a few months from the commercial launch we have already fully leased the office space and are currently concluding the lease of the retail spaces.”
As reported, global real estate company Hines is restoring the storied 18th-century Palazzo Pertusati on Milan’s central Via Spiga under the Spiga 26 project. In December, Moschino signed on as its first tenant, followed shortly after by luxury footwear brand Sergio Rossi.
Kering will have an exclusive use entrance from Via Senato 19 in the heart of Milan’s fashion district, a few steps away from Via Montenapoleone. Its new headquarters will cover more than 75,000 square feet.
It is understood that the French luxury group was attracted by the central position and the project’s innovative design solutions, as well as the standards of environmental sustainability and energy efficiency.
Kering’s Milan offices, which included departments ranging from finance, internal audit, communications and institutional relations to human resources, information technology and legal, among some, were established in Via Mecenate in 2019, in a then-new nine-story glass tower covering 118,800 square feet, adjacent to the Gucci Hub in the city’s eastern border near Linate’s international airport.
Started in 2020, the works on Spiga 26 will be completed in March 2022 when the building will seek to achieve the international LEED Gold certification.
The building housing the stores extends across 140,400 square feet, developed on three mixed-use levels, and will have two entrances, one on Via Spiga 26, with three floors above ground and one in the basement. The other entrance on Via Senato 19 has seven floors above ground level and two below ground.
The main entrance on Via Spiga is characterized by 18 floor-to-ceiling retail windows spanning over more than 213 feet. In the building, 32,400 square feet will be dedicated to retail and the spaces inside will be connected by a central green courtyard spanning 1,944 square feet. Thanks to the agreement with Kering, the office space at Spiga 26 has now been fully leased.
Hines bought the Spiga 26 building in a joint venture with one of the leading Dutch pension funds in 2019, via a real estate fund managed by Savills Investment Management SGR SpA, and the renovation, which started last year, is expected to be completed this spring, with a total investment of 250 million euros.
The refurbishment is based on a project by Scandurra Studio Architettura and SCE Project.
This story was reported by WWD and originally appeared on WWD.com.