Sainsbury’s hands property role to management group CB Richard Ellis |
Charlie Wright, thegrocer.co.uk 29 July 2010 In: Retailers, Industry news
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Sainsbury’s has signed a deal with estate management group CB Richard Ellis to oversee the expansion of its extensive property portfolio.
The Los-Angeles based CBRE is the world’s largest commercial real estate services group. Its contract with the supermarket giant runs for the next three years and comes as Sainsbury’s gears up for a new phase of growth.
“We are looking forward to working with CBRE as estate managers as Sainsbury’s progresses its planned expansion programme,” said Simon Coates, the retailer’s head of estates management.
Jonathan Kinsey, director of global corporate services at CBRE, added: “We are extremely pleased to have the opportunity to work with Sainsbury’s, whose approach to outsourcing is market leading in the retail sector.
“We look forward to supporting Sainsbury’s portfolio management.”