CUSHMAN & WAKEFIELD ALONGSIDE INVESCO REAL ESTATE IN THE SALE OF “GARAGE TRAVERSI”, TROPHY ASSET LOCATED IN THE QUADRILATERO DELLA MODA, MILAN.

The location is the beating heart of Milan’s luxury and fashion scene, internationally recognized as one of the most exclusive and sought-after shopping districts in the world. Beyond high fashion, the district also hosts premium office buildings, luxury hotels, refined dining experiences and cultural landmarks, making it a unique and irreplicable location.

Garage Traversi, projected by the architect De Min and built in 1939, was designed to host Milan’s first multi-storey garage without ramps and equipped with a mechanized vehicle loading system. Entirely redeveloped by Invesco according to the highest quality standards to host cutting edge office and stores spaces and become one of the city’s reference point for luxury shopping, it is now a mixed use building distributed over 10 floors above ground and 2 basement levels.

Characterized by a strong identity, Garage Traversi has been transformed into an iconic trophy asset combining prestigious historic traits and modern technical features, having also obtained the LEED Gold certificate and is fully let to two renowned luxury brands.

“We have worked together with Invesco over the last four years on the process of valorization of the property in leasing to the two current tenants, and the transaction just closed is simply the conclusion of this long journey,” says Carlo Vanini, Head of Capital Markets at C&W Italy. “This transaction demonstrates, if there were still any doubt, how the Milan city center remains a highly attractive and strong market. The iconicity of Garage Traversi, where the excellence of the architectural project and the refurbishment in terms of sustainability and innovation emphasized the uniqueness of the building, combined with the prestige of the tenants, played a key role in generating interest from both private and institutional investors, and in the completion of the operation.”