IGD Deal in Tuscany

Immobiliare Grande Distribuzione SIIQ S.p.A. (IGD) has signed a preliminary agreement to purchase from Unicoop Tirreno the mall that will be inside the shopping center currently under construction in Grossetto.

The consideration for the mall in Grossetto in Tuscany amounts to approximately €45 million, excluding taxes and ancillary charges. Payment will be made at the closing, scheduled after the grand opening, in the second half of 2016.

The new mall will cover a GLA of approximately 17,050 sq m, house 45 stores, six of which midsize, and will be located next to a hypermarket with a sales area of 4,200 sq m, corresponding to a total GLA of 7,346 sq m.

The hypermarket will continue to be owned and operated by Unicoop Tirreno, which will also continue to own exterior areas measuring approximately 8,000 sq m. According to IGD, pre-letting of the mall is ongoing and producing very satisfactory results.

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