GlobeSt.com: You and two of your partners attended Lee's Broker Summit last month. Did that event further assure you that Lee was the right partner?

Prichard:It comes back to culture again. We knew that senior management from both firms could work well together, but ultimately it is the workforces as a whole that will have to collaborate and share information if the alliance is to be a success. Meeting the individual brokers at Lee's summit, it quickly became obvious that both firms shared an entrepreneurial culture and spirit across all levels of the business.

GlobeSt.com: How would you describe Gerald Eve's "mission" for the US, Europe and the UK?

Prichard:Obviously the alliance will create opportunities for both firms to expand their client base and revenue streams, but beyond that the focus will be on giving clients the best levels of service across as many countries as possible. The feedback we've received from our clients—and I know it's a similar story for Lee—is that they're seeking guidance they can trust as they enter new markets. The alliance will give clients access to best-in-class advice as their businesses evolve.

GlobeSt.com: How much interest does US commercial real estate have in the UK and Europe?

Prichard:While transatlantic investment is perhaps currently dominated by greenback flows into Europe, there remains a great deal of interest from European institutions and investment houses keen to capitalise on the resurgent US economy. Similarly, there is an increasing appetite for expansion among both US and European corporate occupiers and retailers into new markets and strategic advice for such moves is being sought. It's very much a two-way street.

GlobeSt.com: In the press release revealing the alliance, it stated that "Both firms will continue acting independently but through the strategic partnership, will collaborate and share resources on select existing clients in addition to pursuing future international business opportunities." Can you elaborate on this with an example?

Prichard:Without revealing sensitive information, we're already working together to help existing clients expand into each other's respective markets. A US freight forwarding company, a long-term client of Lee, is seeking advice in Europe; conversely, a client of Gerald Eve is seeking space in New York City, something that Lee is well-placed to advise on. Internationally, it's more a question of being alive to opportunities that will undoubtedly be created as the alliance matures.

GlobeSt.com: What is the current economic climate in the UK and Europe?

Prichard:I would say cautious optimism is the defining sentiment at the moment. The UK has had the best growth in Europe for some time now, and the effects of this are rippling out from London into the regional markets, but the prospects for the global economy are causing some clouds on the horizon. For the rest of Europe, especially the southern Eurozone states, there seems to be some light at the end of the tunnel following the post-2008 downturn and years of austerity. It's not all milk and honey, but the economic indicators are generally pointing in the right direction.

GlobeSt.com: What do you see as a big positive in the CRE markets on both sides of the pond?

Prichard:Openness to overseas capital has to be a huge plus for US and European commercial real estate markets. Although the subdued oil price has put a limit on external investment from petrodollar countries, there remains a wall of capital from China, other Far Eastern countries and emerging markets such as India and Brazil, all seeking yield. As mature real estate markets, the USA and Western Europe are well-placed to capitalise on this demand for investment-grade stock.

GlobeSt.com: And the big negative?

Prichard:There are already concerns that the values of prime assets are becoming a little 'frothy' and this could restrict investment in some markets. Further risk can be seen from the occupational market, which remains strong at the moment but could easily turn if the global economy slows or even shrinks. But as things stand there isn't an unsustainable amount of leverage in the system, which should mitigate the impact of any cooling off.

GlobeSt.com: Finally, we understand that Lee CEO Jeff Rinkov was in London Town for a visit. How did it go? And did you both have time to stop for a pint?

Prichard:In London there's always time for a pint! Jeff's visit was a great chance to cement the new alliance, and also gave him the opportunity to see Gerald Eve first hand and get a feel for the firm and how it operates. It was also an excuse for a bit of socialising, and I'm pretty sure Jeff found the visit both useful and enjoyable. We're certainly looking forward to a few trips back-and-forth across the Pond as the alliance evolves.