Bloomberg Businessweek picks up on the CBRE research with a story about how investors across Europe are going shopping, in the malls.
Sales of large, regional shopping centers in Budapest, Berlin, London, Rome and Warsaw helped lift retail properties to a record 42 percent of the continent’s 19 billion euros ($23 billion) of commercial real estate deals in the first quarter, broker CB Richard Ellis Group Inc. estimates.
And it brings C&W into the mix as well.
“It’s the defensive area to be in,” said Michael Rhydderch, the London-based partner in charge of European cross- border transactions at Cushman & Wakefield Inc. His firm…estimates that it advised on 40 percent of Europe’s retail deals in the six months through March.Property sales in the second quarter will probably total about 28 billion euros, according to David Hutchings, Cushman & Wakefield’s head of research in Europe. Retail-related transactions may account for as much as 40 percent of that, up from the average of 28 percent in the past five years, he said.