MILAN — Milan’s new sprawling Spiga 26 development has found two additional luxury tenants in hatmaker Borsalino and knitwear specialist Drumohr.
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Real estate company Hines is restoring the storied 18th-century Palazzo Pertusati on the central Milan street under the Spiga 26 moniker in a joint venture with a large Dutch pension fund manager established in June 2019. Renovation works were completed in the spring with a total investment of 250 million euros.
The Drumohr boutique facing the complex’s courtyard will span more than 3,390 square feet, while the 750-square-foot Borsalino space will feature windows framing its entrance onto Via della Spiga. Both stores will replace the brands’ existing units on Via Mazoni and Via Sant’Andrea, respectively, although Borsalino plans to keep its second city store located inside the Galleria Vittorio Emanuele II shopping arcade open.
“As of July, within a year of marketing the space, Spiga 26 is approximately 90 percent leased, which is testament to the quality of the location and project design. We are in final negotiations for the remaining retail space,” said Mario Abbadessa, senior managing director and country head of Hines Italy.
The Palazzo Pertusati building extends across 140,400 square feet, developed on three mixed-use levels, and will have two entrances, one on Via Spiga 26, with three floors above ground and one in the basement. The other entrance is at Via Senato 19, with seven floors above ground level and two below ground. In the building, 32,400 square feet will be dedicated to retail and the spaces inside will be connected by a central green courtyard spanning 1,944 square feet.
“The visionary spirit of the project and the commitment to developing a new creative and sustainable hub in a location that symbolizes tradition, elegance and quality has resonated with prestigious brands which, in addition to their extraordinary heritage, are recognized for their penchant for innovation,” Abbadessa offered.
As reported, Moschino was Spiga 26’s first tenant securing its three-story, 6,480-square-foot space, designed by Andrea Tognon, last December. It is expected to open within a few weeks.
Sergio Rossi came second, leasing a 2,160-square-foot unit over two floors with two display windows framing its entrance onto Via della Spiga. The flagship store, which opened this month, was designed by Cristina Celestino Studio and boasts a black carpeting contrasting with pink-hued glazed tiles.
As reported, Kering will move its Italian headquarters from Via Mecenate to Spiga 26 early next year, occupying more than 75,000 square feet. It is understood that the French luxury group was attracted by the central position and the project’s innovative design solutions, as well as the standards of environmental sustainability and energy efficiency.