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Dils acted as exclusive advisor in the competitive process that led to the sale by a family office of a property located in Piazzale Cadorna 5/7, Milan.
Dating back to the early 1900s, the iconic independent building features architectural elements from the 20th century and stands out for its elegance and grandeur.
The property develops over six floors above ground and one basement level, for a total gross area of 8,600 sq. m., fully leased to a well-known international publishing group.
The upper floors are currently used as offices, while the ground floor hosts commercial spaces.
The building is strategically located right between the districts of Magenta and Cairoli, one of Milan’s most attractive areas, characterized by a mixed-use destination with a vibrant combination of offices, residences, and commercial activities.
Shortly near the renewed Parco Sempione, one of the city’s green lungs, the area offers entertainment opportunities in the fields of art, shopping, dining, and design.
This setting has attracted the interests of prestigious national and international companies that chose to establish their offices here; thanks to its proximity to the city’s financial district, it has also become home to bank offices, consulates, industrial, and financial groups.
The area is excellently connected due to its proximity to Cadorna Railway Station, one of the city’s nerve centers of mobility, directly served by two red and green metro lines
and by the high-speed railway link to Malpensa Airport.
This relevant transaction confirms the strong interest from institutional and private investors towards prime assets located in centers of primary importance and with multiple opportunities for redevelopment in the medium term.
Investment performance in the commercial real estate sector in Q1 2024 confirms the trend of progressive stabilization started in the second half of 2023, with the volume of real estate investments in the first quarter doubling compared to the same quarter of 2023, primarily driven by the office and mixed-use sectors, which together recorded investments of over one billion euros, nearly 60% of the capital invested during the period.