MILAN—Continuing its expansion into Europe, ThorEquities has acquired its first Italian property. The NewYork City-based owner/developer said Tuesday it had signed acontract to acquire 26 Via della Spiga, an 85,000-square-footluxury retail, office and residential property in Milan.

Home to one of Dolce & Gabbana's firststores, 26 Via della Spiga features more than 425 feet of retailfrontage. Dolce & Gabbana occupies all 17,407 square feetof retail space on the property's ground and lower levels. Theseven-story building also contains 33,384 square feet of officespace and 33,443 square feet of residential.

The retail market and overall economy in Milan has held up verywell, with retail rents remaining stable along prime fashioncorridors including Via della Spiga, due in large part to thecity's emergence as a global gateway destination attractingEuropean, U.S., Asian, and Middle Eastern consumers," saysJared Hart, managing director of Thor Equities.Neighbors to the company's latest acquisition include Prada, Tod's,Tiffany's, Moschino, Belstaff, Saint Laurent, Brunello Cucinelli,Bulgari, Chopard, Lanvin, Roberto Cavalli and Valentino; the FourSeasons Hotel Milano is also situated nearby.