International broker CB Richard Ellis has signed an affiliate agreement with Magazin Magazinov, one of Russia's premier retail property services companies. CBRE said the agreement expands its retail offering in Europe further following the acquisition of retail specialists Espansione Commerciale in Italy and C&T Retail in Belgium.
International broker CB Richard Ellis has signed an affiliate agreement with Magazin Magazinov, one of Russia's premier retail property services companies. CBRE said the agreement expands its retail offering in Europe further following the acquisition of retail specialists Espansione Commerciale in Italy and C&T Retail in Belgium.
Magazin Magazinov was founded in Moscow in 1999 by managing director Anna Shiryaeva, and employs 45 people. The company provides a full service commercial real estate offering to retailers and retail property owners operating in Moscow and other key Russian cities.
According to CBRE, 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.
Despite a slowing worldwide economy, Russia continues to be of great interest to many retailers, with growing demand generating retail rent levels that now rank as some of the most expensive in the world. According to CBRE’s Global Retail Rent Index, Moscow is currently ranked as the third most expensive global retail destination and the most expensive in Europe.
