Press release

Commerz Real leases out 27,300 square metres near Milan and repositions office complex

Commerz Real has leased out 27,300 square metres in the office complex Le Quattro Porte in Segrate near Milan, of which 24,300 square metres have been leased to the sitting main tenant IBM. IBM has signed a new contract for further nine years with an option for an additional six years. Moreover, the canteen operator Sodexo has leased a restaurant area of nearly 3,000 square metres for nine years. Le Quattro Porte encompasses a total rentable area of approx. 34,500 square metres and is part of the portfolio of the Commerz Real open-ended real estate fund hausInvest. Moreover, Commerz Real has started a comprehensive modernisation and repositioning of the complex, which was constructed in 2004.

We intend to position the single-tenant property as a multi-tenant concept with public areas in the style of an Italian piazza.

Jens Böhnlein, Global Head of Office Investments at Commerz Real

In this respect Commerz Real is cooperating with the Italian smart-office provider Copernico. “Together with Copernico and IBM we intend to specifically address tenants who will invigorate the complex and at the same time tap synergy effects for IBM, for example other technology companies,” adds Böhnlein.

The conversion measures are to be concluded by mid of 2019. In this respect the focus is on the creation of general areas for employees and guests. Thus, in addition to the Sodexo restaurant with a capacity of approx. 2,500 guests it is also intended to open a public café around the central entrance area. Furthermore, tenants are to be offered conference rooms, a laundry service and other amenities on a pay-per-use basis.