Gurgaon’s Oldest Iconic Landmark Gets A Makeover - 32nd Milestone Is now 32nd Avenue

CBRE appointed as the Strategic Leasing and Marketing Partner

Redevelopment spread across 0.15 million sq.ft., amid 2 million sq. ft. integrated development

Gurgaon, November 29, 2017: Milestone Ventures, NCR’s leading developers, today announced the re-launch of Gurgaon’s oldest, iconic landmark – ‘32nd Milestone’, now known as 32nd Avenue. Milestone Ventures has appointed CBRE South Asia Pvt. Ltd as the Strategic Leasing and Marketing Partner to reinvent the property as a specially curated one-of-a-kind high-street, offering a range of F&B brands. Spread across 0.15 million sq.ft. (1.5 lakh), 32nd Avenue will house a total of 35 premium restaurants, of which 15 will be open in the first phase of the development - by Mid-December. The Avenue will be located within 32nd Village, which is 2 million sq.ft. of commercial (office) retail and hospitality spaces including Signature Towers 2, Signature Towers 3, Milestone Experion Center, Galaxy Hotel and Mall, and a free-standing convention facility.

As the leading retail destination of NCR, Gurgaon has grown to offer 0.5 million sq.ft. (5 lakh) of F&B catchment over the past three years. This figure is projected to expand by an additional 0.2 million sq.ft. by 2019, adopting interesting yet distinctive F&B formats catering to the entire NCR population. Complementing the trend and demands, 32nd Avenue is introducing an assortment of curated restaurants ranging from specialized Indian cuisines (Bihari, Carnatic) to renowned international brands (such as Last from New York) opening doors to the Indian market for the first time. While the focus will be on fine foods, 32nd Avenue also includes other popular concepts including a Brewery to attract the millennial population.

Speaking at the launch, Dhruv Sharma, CEO – Milestone Ventures said, “While most destinations (including malls and hubs) collectively have retail and F&B options, what differentiates 32nd Avenue is its ability to be a common point for different audiences seeking unconventional dining experiences, distinguished retail therapy and new workspace concepts like co-working. Building on the iconic status that 32nd Milestone has among the older generation, we look to reach out to the younger and more informed workforce present here as well and build new memorSies that will go the distance.”

As the strategic advisor for the project, Rajat Gupta, Managing Director, Advisory & Transaction Services, India for CBRE South Asia Pvt. Ltd., shared his perspective on the role of real estate in addressing the potential of a property. “The F&B retail space has evolved significantly during the past few years with segments like fashion and F&B garnering a larger share. As a leading F&B market, Gurgaon offers a great opportunity to restaurateurs and brands to establish their mark in the city. The overall focus for retail is of providing experiences, Every space needs to cater to a larger audience and be able to provide more than just what it was built for and we believe 32nd Avenue does that. It provides a space that gives customers a unique location housing the best food brands while providing a world class ambience. All this is aimed at bringing back the customer to the space time and again.” he said.  

32nd Avenue remains true to its lineage as the first original hub of restaurants and entertainment in Delhi NCR and is focused establish a new category in the retail space. The property aims to be a ‘Milestone in Hospitality’ by collaborating with restauranteurs who understand the foundation of the property and share the same passion for food and hospitality. The property aspires to create a unique, intimate space for corporates and families, offering good food and entertainment, nestled amid the signature lush greens of the property.

Drawing from its iconic status as a social space, the refurbished property promises to provide a whole new experience to the retail consumer. The property stands out for its quaint, distinctive charm through its unique Brownstone inspired architecture, lending a vintage feel. The foundation has drawn heavily on the skills of local Indian master craftsmen in the areas of stone carving, wood detailing, cast iron and intricate plaster molding, which are not seen too often in modern structures.

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About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.​

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