Spiga 26, the Creative Hub in Milan Developed by Hines, Completes Occupancy with ‘Il Baretto’ and Interim Use Arrivals

MILAN - Spiga 26, the new creative hub in Milan, invested in and developed by Hines a global real estate investment, development and management company in joint venture with a leading Dutch pension fund, is now fully occupied with the arrival of ‘Il Baretto’ restaurant and a dedicated innovation area for interim retail spanning fashion brands including BOYY and Diesel Living with Moroso.

The arrival of ‘Il Baretto’ and the temporary space set to host contemporary fashion brands completes the offer at Spiga 26 born from the redevelopment of the historic Palazzo Pertusati building. Starting from the end of February 2023, Spiga 26’s dining options will expand to include Milan’s legendary restaurant ‘Il Baretto’. With access from via della Spiga, the restaurant will cover more than 550 square meters with exclusive use of the 180 square meters inner courtyard.

Reaffirming via della Spiga’s role as a destination that has transformed itself over the years by anticipating Milanese fashion and creativity, Spiga 26 will dedicate 100 square meters of space to temporary shops in the coming months. This interim offer plans to overlook via della Spiga with two windows and flexible options suitable for customized fit-outs hosting innovative names from the world of fashion and design.

To mark the occasion of the upcoming Milan Fashion Week, the first company to enter the temporary space will be BOYY, a luxury accessories brand founded in 2004 in New York. For Design Week in April, the space will change appearance with the new Diesel Living with Moroso collection.

Spiga 26 has already become an established destination, encompassing fashion, design, lifestyle, food and business, in the heart of Milan’s fashion district for international brands and customers. In total this spans 3,000 square meters of retail space over three levels including Moschino, Sergio Rossi, Peserico, Borsalino, Drumhor and Baldinini, together with Kering’s new Milanese headquarters totaling 7,000 square meters of office space.

Via della Spiga 26, in which Hines invested as part of a joint venture with a leading Dutch pension fund in 2019 through a real estate fund managed by Savills Investment Management SGR S.p.A., has undergone extensive refurbishment based on a project by Scandurra Studio Architettura and SCE Project carried out by LDB as general contractor.

“Our mission to develop real estate projects aimed at enhancing and redeveloping iconic places and buildings from a sustainable perspective has reached a new important milestone with the Spiga 26 creative hub, which has now completed its leasing activities,” explained Mario Abbadessa, senior managing director & country head of Hines Italy. “Starting out with the goal of the contextual urban regeneration of the street and the building, the project has materialized with a diversified, high quality offer, thanks to businesses that have been able to appreciate our visionary spirit and ability to establish new creative trajectories in an iconic location within Milan’s luxury Quadrilatero district. In addition to their prestige, Spiga 26’s brands can in fact boast an extraordinary heritage, combined with a velocity for innovation, just like the building and via della Spiga itself which continues to capture international imagination.”

The advisor for the transactions with ‘Il Baretto’ and BOYYY was 18 Montenapoleone Retail Consultancy & Brokerage.

About Hines

Hines is a global real estate investment, development, and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 28 countries. We manage a $92.3B portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 634 properties totaling over 225 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets.

Since entering Europe in 1991, Hines has grown its European platform to include offices in 17 cities as well as a presence in 79 cities in 14 countries. Hines oversees investment assets under management valued at approximately €25.3 billion and provides third-party property-level services totaling 4.7 million square meters in Europe, in Austria, Czech Republic, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.

To learn more about Hines, visit www.hines.com and follow @Hines on social media.

¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2022.

Spiga 26

Spiga 26 is the urban regeneration project in which Hines – global real estate investment, development and property manager – has invested alongside a leading Dutch pension fund in 2019 (through a real estate fund managed by Savills Investment Management SGR S.p.A.), to remodel the historic 18th century Palazzo Pertusati and transform it into a unique space and a platform for “discovering experience”, characterized by the cross-pollination between fashion, business, design, culture, and food.

Covering 13,000 square meters, in what Hines believes is one of the most iconic locations in the city, 3,000 square meters are dedicated to retail, with an interior courtyard measuring 180 square meters. Spiga 26’s retail space will be arranged on 3 multi-tenant levels thanks to the extremely flexible layouts, designed to become the city’s new cultural reference and meeting point.

Thanks to its double entrance, the space opens out onto Via della Spiga 26, with 3 floors above ground level plus one beneath, and Via Senato 19, with 7 floors above ground level and two under. In particular, the main entrance from Via della Spiga is characterized by 18 large and bright windows that have been redesigned and expanded to floor-to-ceiling height, which directly overlook the street for a total of 65 meters. Inside, the spaces are connected by an exclusive 180 square-met central courtyard which serves as a magnificent compass.

On the fifth and sixth floors, which overlook Via Senato, the commercial areas are further expanded with nearly 1,000 square meters of additional space, further enhanced by over 800 square meters of terraces and a glass box featuring 360° views of the city, which contributes to the exclusive allure of this unique location.

The building’s new commercial identity was established and designed with a strong focus on sustainability. In fact, Spiga 26 aims to achieve LEED Gold certification, thanks to the measures being put in place to qualify as a “sustainable site”, to facilitate the use of electric and low-emission cars by tenants, and to improve the efficient use of water, careful monitoring of energy consumption, use of sustainable materials, and a focus on the quality of the internal environment.

With Spiga 26, Hines has also become the promoter of a series of cultural initiatives featuring the street and Milan, aimed at transforming the urban fabric into an artistic location in which private and public spaces borrow from one another, creating a new “creativity district” in one of the most prestigious and well-known places in the world: the Quadrilatero della Moda.