"It's the natural progression," explains Mike Strong, president of CBRE in Europe, Middle East and Africa. When the relationship started, Strong says, "we recognized the importance of Ireland and how important it was to have representation here."

In fact, with a domestic economy growing at more than 5% per year, Ireland has one of the healthiest leasing and investment markets in Europe. Irish investors are among the most active in Europe, having acquired nearly $6 billion of property in the 15 European Union countries in 2004, according to CB Richard Ellis Gunne research.

"The vast majority of capital is invested outside of Ireland," adds Pat Gunne, who will continue as managing director of the company's Irish business, which will now operate as CB Richard Ellis. He says Irish investors are very familiar with the US markets including New York City, Boston, Chicago and Washington, DC and look for CBE office blocks and high-quality, high-profile retail.