Orefici 13

Orefici 13, acquired by Hines in 2017 in joint venture with a German pension fund, represents one of the most iconic trophy buildings facing the adjacent Piazza Cordusio, close to the Duomo Cathedral. The acquisition strategy further demonstrates Hines’ commitment in redeveloping historical iconic buildings in key locations, maintaining their heritage while bringing innovation in line with the latest standards of environmental sustainability and energy efficiency, usability and efficiency. The 12,000 square-meter building, totaling 8 floors, was formerly the historical global headquarters of the eyewear retailer Luxottica. The refurbishment, completed in 2019, converted the asset into a LEED GOLD certified mixed-use property, with areas dedicated to both retail and offices. The underground, ground and first floors have been converted to wide modular retail spaces, interconnected thanks to the creation of an elegant double height covered courtyard. The internal courtyard, featuring a glass roof, has improved the tenant/customer experience, creating a new retail destination. The retail units enjoy exceptional visibility with the implementation of full height display windows on both Via Orefici and Via Cantù. The project also upgraded the five upper floors into Grade A office spaces and created a rooftop terrace featuring a spectacular panoramic view over Milan’s CBD. The investment strategy will involve also the urban surrounding environment, allowing the refurbishment of the street and the square, planting trees and making the area pedestrian. The Orefici 13 project, along with Cordusio 2.0, contributed to converting the Orefici/ Cordusio District, historically the financial area of Milan, into a unique and vibrant experiential retail destination, providing a brand new customer journey in modern spaces. Orefici 13 was sold in 2021.