US market leader CBRE announces new French acquisitions

US market leader CBRE announces new French acquisitions

Real estate specialists CBRE have announced excellent figures for the US, as well as a desire to increase their asset value in France. The American branch was the leader on the US real estate market last year, with 17 billion euro in transactions. While the French branch is far smaller (with 673 million in investments last year), it also receives special attention.

Growing in France

These 673 million lifts the total value of CBRE's French real estate to 2.7 billion euro – including offices, retail complexes and logistic platforms. Recently, the group added two new acquisitions to that figure: a Fnac in Toulon and a shopping centre in Paris.

 

The Toulon Fnac measures 3,253 m² and lies in in the Mayol shopping centre, 53% of which was already property of CBRE. The shopping centre holds 100 stores, including a C&A and a Carrefour hypermarket. Together with the sale, Fnac extended its lease until 2018 – with an option until 2024. In the Paris region, CBRE has bought the 11,450 m² Centre Commercial Boissénart for 68 million euro. Boissénart holds fifty stores of French and foreign chains and is located next to a 14,000 m² Auchan hypermarket.

 

Top in the US

Last week, the magazine Real Estate Alert announced CBRE was the leading investment firm for commercial properties in the US, with 22.3 billion dollar (17 billion euro) in transactions. That figure included 2.6 billion dollar (2 billion euro) of investments in shopping centres; 95% more than the year before.

 

CBRE is based in Los Angeles but is operational in 65 countries. The group, with a 4.5 billion euro turnover, has 34,000 employees that – according to themselves – sign one transaction per eight minutes.

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