Retail and real estate firm Plaza Centers India yesterday announced its tie-up with Los Angeles-headquartered commercial real estate services firm CB Richard Ellis (CBRE), a Fortune 500 and S&P.
According to the tie-up, CBRE will be the exclusive leasing partner for Plaza Centers' Koregaon Park Plaza, the Group's first retail property in India being constructed in Pune.
CBRE will be responsible for identifying potential tenants, proactively approaching them and concluding the license agreements in accordance with the guidelines provided by Plaza Centers.
It will also chalk out a detailed marketing, advertising, leasing and promotional plan for Koregaon Park Plaza keeping in mind the potential and current trends. With the mall scheduled to open in the first quarter of 2011, the entire leasing activity will be completed in about 12 months.
Plaza Centers had recently revealed the scale plan for the new property. (See: Plaza Centers to invest Rs3,000 crore for first mall in Pune)
''Retail is a very dynamic sector and it is extremely important to move with the right partners," aid Yossi Ofir, country head, Plaza Centers India. "CBRE is a global expert in this field and understands the nuances of the business.''