CBRE Expands SE Reach With BlackRock Retail Buy

MIAMI-In a move that will expand the company’s retail service offerings in the Southeast, CB Richard Ellis Group Inc. has acquired locally based BlackRock Retail Property Advisors Inc.

Founded in 1996 by Dennis Carson and Casey Rosen, BlackRock specializes in investment sales and debt/equity financing with an exclusive focus on retail properties in the Southeast. The company, which has no affiliation with New York City-based BlackRock Inc., has six employees who will join CBRE’s Miami office. The employees will cover Florida and the rest of the Southeast, and work with CBRE capital market professionals in Atlanta, Orlando, Tampa and Jacksonville.

CB Richard Ellis senior managing director Theodore Carter, who oversees the South Florida region, tells GlobeSt.com that CBRE targeted BlackRock because it is a strong regional player with experience in the retail sector, which is an area of focus for the company. “Retail is one of our global focuses,” Carter says. “The acquisition will allow us to expand our offerings and will also assist us on the leasing side and the asset management side.”