Cromwell secures anchor tenant for €26m Milan office redevelopment

Real estate investor and fund manager Cromwell Property Group has secured an anchor tenant for its 10,000 m2 sustainable office redevelopment in Milan.

A major European multinational communications industry company will relocate to the vibrant neighbourhood of Scalo Porta Romana and will occupy 4,500 m2 of office space.

Nervesa21 will offer 14 modern floors, modular flexible layout, premium amenities, 2 rooftop terraces and 4 panoramic elevators.

The €25.7 mln redevelopment has been designed by architect DEGW/Lombardini 22 and is set to become one of the most advanced Grade-A offices in terms of sustainability and energy efficiency.

Lorenzo Caroleo, head of Italy for Cromwell, commented: ‘Securing such a strong anchor tenant at Nervesa21, a year before the completion of its redevelopment, demonstrates robust occupier demand for high-quality and sustainable office premises in strategic locations. The Milan office market continues to be the most sought-after in Italy and one of the most active in Europe, attracting interest from both national and international occupiers.’

Fabio Mantegazza, head of advisory & transaction of CBRE Italy, added: ‘The success of this operation demonstrates how occupiers continue to seek quality spaces to support new ways of working and retain talent. The tenant strongly embraces the ESG principles foreseen within Nervesa21 and the architectural design that significantly enhances the outdoor spaces in favor of the well-being of the people who will work there.’

Nervesa21 will feature 5,300 m2 of external green leisure space, end of trip bicycle facilities, 230 parking spaces and will be powered by a combination of renewable energy from solar panels and 100% renewable energy tariffs.

Upon completion, expected by the end of 2023, the building is expected to attain LEED Platinum and WELL Gold certifications.

Nervesa21 is strategically located south-east of Milan city centre, close to Corso Lodi and with direct access to the A1 highway, Linate Airport and the Central Station.

The anchor tenant was secured with the support of CBRE Italy’s Advisory team.


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