Milan: Coop Lombardia sells Arona Commercial & Business Center to Vastint Italia

Coop Lombardia sells a mixed-use asset in Milan, on Via Arona 15, adjacent to Corso Sempione and a short distance from the City Life district.

Less than a month ago, the company opened a new store in Monza.

18.000 sq m with a Coop supermarket and other brands

The mixed-use complex, with a total area of 18.000 sq m, houses a Coop store, an Ovs shop, a Cisalfa megastore... and other retail brands.

In particular, the supermarket dates back to 2003, while its format was designed in 2004.

The news was announced by advisor Cbre, which advised Arona Commercial & Business Center, a real estate company controlled 100% by Coop Lombardia itself.

Who is the Dutch group Vastint Group

The asset is being acquired by Vastint Italia, an operator specialising in long-term real estate investment, development and management.

This in turn belongs to Vastint Group, a pan-European company headquartered in Amsterdam with a portfolio worth more than 6 billion euros. Its portfolio spans office buildings, hotels and residential properties, as well as, precisely, retail.

Vastint is part of Interogo Group (more precisely, it is controlled by Interogo Holding AG, based in Switzerland), which is owned by Interogo Foundation, based in Lichtenstein. The corporate foundation was created, in 1989, by Ikea's patron, Ingvar Kamprad.

Four levels in a strategic location

Built in the 1960s and subject to major renovation works in recent years, the complex is arranged over three above-ground levels and one underground level, with approximately 280 covered parking spaces.

As mentioned, the ground floor houses a varied mix of commercial activities and services, including a food offering, while the upper floors contain office space, as well as facilities for the community and workers, including a nursery.

The property benefits from excellent accessibility thanks to its proximity to the M5 underground line (Domodossola station) and suburban rail connections.

The catchment area, in less than 20 minutes by car, includes approximately 1,8 million inhabitants, belonging to a socioeconomic group with per-capita income and consumption levels above the national average.

“Investment strategies today favour assets capable of combining quality, diversification and growth prospects,” comments Silvia Gandellini, head of capital markets Italy at Cbre. “Mixed-use properties fully meet these requirements, offering greater responsiveness to market cycles and a distinctive ability to capture the evolution of urban demand.”

This article was translated from the original Italian version with the assistance of artificial intelligence. In case of discrepancies, please refer to the original Italian version.