Corso Italia 23

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Built in the 1960s, Corso Italia 23 was designed by three masters of architecture – Ponti, Fornaroli and Portaluppi – and has been the headquarter of Allianz S.p.A (formerly RAS) in Italy until 2018, when Allianz S.p.A.’s relocation to the new Allianz Tower in CityLife took place and created the opportunity for PIMCO Prime Real Estate to transform the fading icon into a modern office campus.

Corso Italia 23 comprises an entire city block, interacting with its immediate neighborhood and the city. The original complex has been transformed by architects Skidmore, Owings & Merrill into a contemporary office campus with well-being and sustainability at its core. The three buildings were renovated in continuity with the original timeless design, and enhanced through innovative features, including multi-level lobbies and social spaces, spiral staircases and terraces.

Central hub spaces connect office floors vertically, offering users a range of common areas. These include meeting rooms, phone booths, and lounge areas, providing diverse environments suitable for different work styles. There are quiet spaces for focused work and more dynamic areas that encourage collaboration and social interaction. A new full-service conference center is equipped for events and town halls, featuring a 200-seat auditorium/performance space with integrated audio-visual capabilities and specialty lighting. To promote well-being, we have created inspiring outdoor spaces. A redesigned courtyard serves as the heart of the campus, while rooftop gardens and terraces offer a retreat from the bustling street below, with breathtaking views of Milan. Here, people will be able to work, meet, dine, chat, relax and have fun.

Key sustainability features

• Most of the buildings’ original concrete structure has been retained, limiting the environmental impact of new construction. The red granite that used to clad the main facades has been repurposed into a new and striking architectural element. The new facades ensure the highest level of thermal insulation and reduce energy consumption for heating and cooling.    

• 70% of the energy is generated on-site, significantly reducing reliance on external sources and promoting energy efficiency.

• The building boasts LEED Platinum, WELL Platinum, and WIREDSCORE Gold certifications, reflecting its high standards in sustainability, well-being, and digital connectivity.

Furthermore, the redevelopment of Corso Italia 23 – alongside the repositioning of a second office building into a prestigious hotel, another project managed by PIMCO Prime Real Estate – has been a catalyst for the regeneration of the surrounding area. The campus overlooks the newly created Santa Sofia square, where a brand-new metro stop will connect the city center with Linate airport in just 20 minutes. More than 3,000 people will frequent the campus every day, bringing new life, excitement and business opportunities to the neighborhood. Corso Italia 23 represents a new gateway to Milan and, in that respect, new visual gateways have been opened to the garden and a new main entrance has been created on Santa Sofia 28 to revitalize this previously unused part of the city.

With a focus on people, an ‘inside-out’ approach at Corso Italia 23 complements flexible and adaptable office space with a range of amenities to meet the needs of today’s tenants and attract colleagues to the office.    

The project to upgrade Corso Italia 23 to a modern, flexible office space comparable to a newly built space in terms of performance and sustainability was able to attract Deloitte, with a pre-lease agreement for the entire complex signed off-market two years prior to the completion of the project.  

SOM’s design and PIMCO Prime’s vision seized a historic opportunity to revitalize the Corso Italia area of Milan, transforming it into a new central workplace district for the city. The development solidifies Milan’s status as one of the most vibrant metropolises in Europe.