This article is from the Australian Property Journal archive
CBRE has acquired retail leasing and property management firm Race Property.
Led by co-directors Graeme Wakefield and Meagan Wakefield, Race Property has provided dedicated retail services in the Queensland and northern New South Wales’ markets for more than 10 years, with in excess of 190,000 sqm of property under management, with clients including ISPT, SCA, Rockworth, Coles and Fabcot.
Race Property’s team will be integrated within CBRE’s existing asset services and retail leasing business lines in Australia.
CBRE Australia and New Zealand CEO Ray Pittman said the acquisition reflected CBRE’s continued focus on the growth of its retail platform and ongoing strategy to diversify into new growth areas.
“We will now be able to provide a more specialised and first-class offering to our clients across the Pacific region, building on Race Property’s reputation and track record as a market leader in retail services.
“We see this as an outstanding opportunity to expand and enhance our footprint across the Pacific region with a greater holistic approach, encompassing retail facilities management, property management, finance and leasing. This fully integrated retail leasing and management platform will also complement our existing retail investment sales and financing capabilities,” Pittman said.
Senior managing director Amanda Steele said Race Property will further strengthen the agency’s integrated offering in the retail sector.
Wakefield and Wakefield will assume responsibility for CBRE retail asset services and CBRE retail leasing.
Wakefield said CBRE’s global capabilities in the retail services sector was a key attraction, allowing Race Property to enhance its expertise with a company recognised as a global leader.
Australian Property Journal
