CB Richard Ellis Inc. (CBRE), which has significant operations in New England, has been named the world's fastest growing retail property manager by Chain Store Age. The retail industry publication's May issue reported that CBRE added 18.7 million s/f of new global retail property management assignments in 2008, 35% more than the next highest ranked provider. Chain Store Age noted that the "pros are back in charge, helping to stabilize distressed assets and improve already healthy ones," as retail property owners turn to quality managers during a challenging market environment.
"Today's economic environment has created unprecedented challenges for retail property owners, and our performance in Chain Store Age's annual survey underscores the power of our platform and professionals to deliver for our clients, no matter the market conditions," said Anthony Buono, executive managing director of CBRE retail services.
CB Richard Ellis serves a vast array of clients - including the nation's leading retailers and retail property owners - with a full spectrum of services including property management, outsourcing, retail disposition, leasing, investment sales, debt or equity restructuring, valuation and consulting. In 2008, CBRE executed more than $23.5 billion in retail transactions worldwide for its clients.
Chain Store Age's 20th annual survey of Fastest Growing Managers measured domestic and international third-party management and leasing contracts obtained during the preceding calendar year.