CBRE sells business park in Milan
CBRE Global Investors, on behalf of a Separate Account client, announced the sale of its investment in Bodio Centre (buildings 1, 2 and 3), Milan to Axa Investment Management – Real Assets. The business park has been sold for €83m.
The office space consists of 30,000 sq m and is split between the three buildings. It was fully refurbished in 2003 and is let to a number of institutional tenants. Axa IM – Real Assets already owns two other buildings in the complex.
Bodio Centre is located in the north-western part of Milan between the city centre and the main access roads towards the international airport, Malpensa. The business park is well served by public transport and accessible by road links.
Sandro Campora, country manager Italy, CBRE Global Investors said: “We have completed our significant asset management initiatives to transform the complex from single-let to multi-tenant use and to bring it in-line with current occupiers’ requirements.”