CB Richard Ellis has announced the signing of an affiliate agreement with Magazin Magazinov, one of Russia's premier retail property services companies. The agreement extends CBRE's capacity in the European retail sector and follows the recent acquisition of retail specialists in Italy (Espansione Commerciale) and Belgium (C&T Retail).
CB Richard Ellis has announced the signing of an affiliate agreement with Magazin Magazinov, one of Russia's premier retail property services companies. The agreement extends CBRE's capacity in the European retail sector and follows the recent acquisition of retail specialists in Italy (Espansione Commerciale) and Belgium (C&T Retail).
Founded in 1999 by managing director Anna Shiryaeva, Magazin Magazinov employs 45 people and is based in Moscow. The company provides a full service commercial real estate offering to retailers and retail property owners operating in Moscow and other key Russian cities. Russia has the largest shopping centre development pipeline in Europe, and Magazin Magazinov's expertise in this area will bring substantial advantages to CBRE clients looking to secure new footholds across the country, the company said.
Mike Strong, EMEA chairman, said: 'Our EMEA retail capability has grown extensively over the past three years. The 300-strong team is now recognised as the leader in retail real estate with established local expertise in all key traditional and emerging retail destinations. The new affiliation with Magazin Magazinov is a particularly important addition to our network as the rapid development of the Russian economy over recent years presents a wealth of long-term strategic opportunities for our clients.'
