(Visited 113 times, 1 visits today)
(Visited 113 times, 1 visits today)

Pavilion: Coima Res-IBM agreement

03 August, Linkedin

At the beginning of 2019, Unicredit will leave Pavillion in Porta Nuova. Coima Res entered a deal with IBM for the rental of the office space inside the building.

Starting from the first quarter of 2019, IBM will succeed to Unicredit and will occupy Pavilion. The bank sold the building to Coima Res in May with a preliminary agreement for over 45 million euro. The rumours circulating in the past few weeks talked about a shopping centre, shops and a flagship store opening in the area. Now the future of Pavilion is clear. IBM will take over 100% according to a long-term lease contract with an initial rent of 400 euro/Sq m, which will rise to 1 thousand once fully operational, resulting in an initial expense of 1.2 million which will become 3 million.

Source: Linkedin

Translator: Cristina Ambrosi