CBRE Group, Inc. (NYSE:CBG) announced yesterday a renewal and expansion of its contract with Royal Dutch Shell Plc. CBRE will manage the international energy company’s retail network portfolio in 22 countries across four continents.
Under the contract, CBRE’s Global Corporate Services (GCS) group will provide real estate transaction management, lease administration and real estate consultancy services covering around 9,000 retail sites. CBRE has managed the Shell Retail European portfolio since 2010, but the scope of the contract has now expanded to also include over 3,000 retail sites in Asia Pacific, the U.S., Canada and South Africa.
Mark Caskey, EMEA Head of Global Corporate Services (GCS), at CBRE commented:
“Shell Retail is a long-standing client for CBRE in Europe. We are pleased not only to retain our relationship within that region, but also to extend our partnership across Asia, Africa and North America. Our specialist Petroleum and Automotive division will strive to enhance the Shell Retail network by bringing uniformity of delivery, best practice transfer across regions and dedicated investment in network analysis tools and technology.”
Malcolm Horne, Group CEO of Broll Property Group, CBRE’s South African partner commented: “We are delighted to secure the South African Shell Retail contract as part of a global outsource contract awarded to our affiliate partner CBRE. Broll’s Corporate Real Estate Team played a significant role in this achievement and will represent Shell SA in all of their retail sites across South Africa.”