Shell Selects CBRE as European retail property advisor

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, Luxembourg and The Netherlands. 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.”

Mátyás Zórándy, Portfolio Manager at CBRE Budapest added: “Shell is one of the most important players in the Hungarian petroleum market and a key client of CBRE. The Hungarian and the Polish property portfolios with approx. 250 stations are similarly sized and the two largest in the region: they are more than one and a half times larger than the Czech portfolio for example. In order to optimize the Hungarian network of Shell our company strongly relies on its profound knowledge of the local commercial property market. In developing the portfolio management system as well as thorough and efficient processes we also take advantage of the global experience and expertise of CB Richard Ellis in this field.”