The CBRE Group (listed on NYSE: CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles (USA), is a leading global real estate consultancy (in terms of revenue in 2016). CBRE Group Inc. has been included in the ranking "FORTUNE 500" of the major U.S. companies and is the only company of real estate services to be included in the ranking. With approximately 75,000 employees (excluding affiliates), the group serves primarily the interests of investors, property owners and end-users, operating through more than 450 offices (excluding the offices of affiliated companies and / or partners).
CBRE is the leading real estate consulting company in the world. Each year, we complete thousands of successful assignments while serving a clientele operating in different sectors: investors, end users, developers and corporations. CBRE's global presence combined with an in-depth knowledge of local markets enables us to seize every opportunity, to make faster business processes and to obtain a precise and accurate overview of the general conditions and future trends in the property market at a global level.
The main aim is to provide customers with real estate consulting services that can add value to their business. In fact, the greatest wealth of CBRE is represented by customers. For this reason CBRE creates its own business on their specific needs, through expertise, experience and professionalism.
The strength of CBRE in Italy is also the result of acquisitions, such as Espansione Commerciale in 2007 leader in strategic consultancy and management / marketing of shopping centers.
The acquisition of GWS from Johnson Controls in 2015 has completed the range of services that CBRE can offer customer by adding expertise of facilities management for the real estate management. Ours is therefore a global vision in consulting and services for the real estate.
CBRE employs in Real Estate Consultancy in Italy more than 600 people in four offices: in Milan, Turin, Rome and Modena. In Italy CBRE offers a wide range of integrated real estate services, al global level such as:
Take-up from January to September was 272,600 sq m, the highest result ever recorded in the Milan office market. This could bring a total annual take-up above 300,000 sq m, in line with the positive trend which started in 2015.
In the third quarter vacancy rate dropped to 12%. Especially in the CBD it declined for the first time from Q4 2015 to 7.3%, while it has risen in the semi-central and peripheral areas.
The Centre, historically less dynamic compared to the CBD area, recorded the largest deal for letting space of the quarter: more than 7,000 sq m leased to a financial company at 450 Euro sq m pa.
In Q3 prime rent in the CBD stands at 530 Euro sq m pa, an increase by 8% compared to the same period of last year: this places Milan among the European cities in the rental growth accelerating phase.
Quarterly investment volume in the office sector reached 524 million Euros, doubling the result of the third quarter of last year. Cross border capital accounted for 52% of the volume.
Absorption in the third quarter of 2017 amounted to 58,488 sq m, a strong increase compared to the previous quarter and 42% higher than the same period of last year.
Volume of office spaces leased in the first nine months, just over 130,000 sq m, has increased by 20% over the same period of 2016; this confirms 2017 as one of the best years for the Roman market, with volumes lower than the ones recorded in 2011.
Prime rent increased in the CBD area to 420 Euro sq m pa while it remained stable in the EUR area at 330 Euro sq m pa.
Take-up was driven by a large transaction in the EUR Centre for approximately 22,500 sq m, 38% of the quarterly absorption, which will become the new HQ of a Hi-Tech multinational.
Investment in Q3 was around 128 million Euro confirming the positive trend for the current year.
Almost 1.8 billion Euro were invested in Q1 2016, a decline of 6.7% on the same quarter of the previous year.
Quarterly volume confirms 36% more than the quarterly average for the past four years.
At approximately 1.3 bn Euro, foreign capital is still the major driver of Italian CRE investment volume in Q1 16.
European investors lead the quarterly foreign capital (51%), with German on the top of the list.
The office sector, with 46% of total quarterly volume, is still the investors’ preferred asset class while retail follows whit 32%, thus improving its market share compared to previous quarters; the mixed use properties sector (mainly non-core investments to be re-positioned) fell at 6% .
The beginning of 2016 has been marked by an increased cautiousness among investors compared to the end of 2015 but the interest in the Italian real estate is confirmed sound.