Shell Selects CBRE as European Retail Property Advisor
London, 29 January 2010 – In one of the largest recent appointments in the European retail property sector, CB Richard Ellis Group, Inc. (NYSE: CBG) today announced that it has been selected by Shell (LSE: RDSA / RDSB) to provide transaction and portfolio management services across its European retail portfolio. The assignment will see CBRE take management of delivering real estate services to Shell’s retail portfolio in the region, encompassing more than 6,000 sites across 17 European countries including: Czech Republic, Slovakia, Germany, Hungary, Italy, UK, Poland, Bulgaria, Switzerland, Austria, Norway, Denmark, Sweden, Finland, Belgium, Netherlands and Luxemburg. In addition, CBRE has been engaged to support Shell with the development of their property strategy for Latin America.
Mike Strong, EMEA Chairman and CEO, CBRE, said: “As one of the world’s leading companies, Shell’s decision to partner with CBRE is an important endorsement of our European corporate services platform. We are thrilled to partner with Shell and look forward to working with them to maximise the investment in their European retail property network.”
Irene Masterton, Global Manager Retail Real Estate, Shell, commented: “Shell has a wealth of experience in leveraging strategic partnerships to support business activity, and we are delighted to formally partner with CB Richard Ellis, whose world-class operating practices will help further evolve our real estate service delivery model. Our decision to select CBRE followed a comprehensive market review and competitive RFP process, from which CBRE’s specialist expertise and unique technical capability in the global petroleum and automotive sector was apparent.”
"Having been a graduate at CBRE myself, what always amazes me about this company is its ability to continually teach new skills, to introduce people from different cultures and backgrounds and to engage you with the top Clients on the best buildings on this planet. What you make of this environment is up to you."
