CBRE acquires M3
INDUSTRIAL and logistics real estate services specialist M3, which has an operation in Sheffied, has been acquired by CB Richard Ellis.
Global property services firm CBRE said the acquisition was a “significant step” in the development of its industrial services offering in the UK and across Europe.
M3, which also has offices in Birmingham and London, advises global clients on the investment, funding, occupancy, leasing and development of industrial properties.
Martin Samworth, managing director of CBRE UK, said: “The acquisition of M3 builds on our leading position in the UK industrial agency and investment real estate services markets, and enables us to offer clients unparalleled insight into the sector.
“We continually seek opportunities to strengthen our presence in key service areas, so when the opportunity arose to acquire M3 we saw it as a very complementary fit for our UK business. The M3 team are respected specialists in the industrial market and we are looking forward to having them join CBRE.”
M3 was founded in 2000 by former -Gerald Eve agents Richard Moffitt and Simon Milner.
The 20-person M3 team will be fully integrated into CB Richard Ellis, and adopt the CBRE brand.
M3 has advised names including Goodman, Gazeley, Prologis, Legal and General, CBRE Investors, Standard Life, BA Pensions, Blackrock and F&C.
Mr Moffitt, managing partner of M3, said: “We are thrilled to be joining CB Richard Ellis. The company’s global platform, formidable client base and strength across all property sectors will bring new opportunities for us and allow us to further develop and grow our industrial business. To be part of the number one property advisory firm in the world will bring enormous benefits to our clients.”
