CBRE France: strength built on expert consulting, territorial coverage and an international network in retail real estate

CBRE France: strength built on expert consulting, territorial coverage and an international network in retail real estate

Fabrice Allouche, President of CBRE

Why did you decide to develop the CBRE France retail business?

When I arrived at the head office of CBRE France in 2013, we, like our main competitors in retail, were essentially positioned to provide "pure" transaction services. But I was convinced that, in retail real estate as in other real estate asset classes, a good transaction begins with a solid understanding of needs and with expert advice.

My immersion in the European network of CBRE Group and frequent trips to London, where the retail consulting business is highly developed, completely confirmed my perception. First, there was substantial room for progress for CBRE France; then, an obvious opportunity in joining an international group already very active in retail consulting. It gives us access to foreign markets and international brands seeking to set up in France.

How did you do it?

To become operational quickly, we decided to acquire an existing structure. Jérôme Le Grelle is a recognized expert in this business. We’ve known each other for ages, and we share the same vision of consulting. The highly skilled team he formed at Convergences joined us, and we bolstered it by recruiting other experienced professionals.

We have made great strides in developing across the country. We created service platforms in six major French cities where our clients can access all the consulting services CBRE offers. A seventh will open soon, and we want to significantly increase our workforce in the regions in the coming years.

For retail, which requires detailed knowledge of the local context, it is obviously an advantage. It also allows us to support our retail clients and investors throughout the territory with the same level of consulting.

CBRE is now perfectly equipped to meet the growing need to restructure obsolete commercial zones, including transforming them into mixed-use neighbourhoods. For this, we have all the most advanced expertise necessary, particularly for legal and financial aspects.