CB Richard Ellis Group, Inc. has announced the acquisition of C&T Retail, the leading retail tenant representation firm in Belgium. The acquisition enhances CB Richard Ellis' retail capabilities and market position in Belgium, and expands its geographic presence by establishing a new office in the growing city of Antwerp.
C&T Retail was established eight years ago by Patrick Tacq and John Collin. The company is recognized as a market leader in retail tenant representation, with longstanding relationships with the largest retail chains in Belgium and Luxembourg. The acquisition represents another important step in CB Richard Ellis' strategy to provide the premier retail services capability across Europe, Middle East & Africa (EMEA), and follows the acquisition of Belgium retail specialist, IDG, in 2006.
The Belgium commercial property market remains strong, and the retail sector in particular is showing continued growth. Over $1.5 billion was invested in retail property in Belgium last year, and over 11.8 million ft² of additional retail property will be added to the Belgium market in the next few years.
Mike Strong, Chairman of CB Richard Ellis, EMEA, said: "Over the past 12 months a number of major retail brands have opened their first stores in Belgium and this trend is expected to continue. C&T Retail will help us to respond to this increasing market interest in Belgium and strengthens our retail position across the country."
Gaetan Clermont, Managing Director CBRE Belgium, said: "The geographic coverage of C&T Retail and the company's expertise in tenant representation will be of significant value to our existing retail specialists at a time of heightened activity in Belgium's retail property market. With the addition of an office in Antwerp, we are now able to offer clients access to the best professional talent in retail tenant representation as well as investment and property leasing across every region."
Patrick Tacq, Managing Director at C&T Retail, commented: "CB Richard Ellis opens a unique opportunity for us to become part of a first-class retail capability across Europe. We look forward to bringing the benefits of a bigger team and broader service portfolio to our client base."