CBRE ADVISE ON SALE OF AMERICAN EXPRESS HQ
CBRE Italy, the global real estate advisor, has advised American Express on the sale of its historic HQ in Italy, a 10,000 sqm building located in Rome.
Located in the the heart of Tuscolana neighborhood, the asset was built in the late '80s in front of the famous Cinecittà studios and was converted from hotel use into offices after the purchase by American Express. The company has now moved to "Da Vinci Center", a new business complex in Rome Fiumicino, which is already home to a major multinational company from the automotive sector advised by CBRE in 2011.
This transaction took three years to complete with numerous stakeholders involved including the architect Riccardo Drisaldi, President of the Federlazio Building Chamber, who advised the buyer. In the coming months the building will go through a break up sale process.
There is a serious issue in Rome Tuscolana, with a chronic shortage of good quality commercial properties. We are keen to ensure that the modern and efficient building which was home to American Express for years remains intact. A developer who will maximise the use of the space, close to public transport with an array of parking options, for commercial use is imperative for us.