CBRE FORGES STRATEGIC RELATIONSHIP WITH STOWGA, THE FIRST ON-LINE MARKETPLACE FOR TRADING SURPLUS WAREHOUSE SPACE IN THE UK
12th December 2017, London: CBRE has entered into a strategic relationship with Stowga, the United Kingdom’s first on-line marketplace that connects warehouse occupiers, owners and third-party logistics companies with short-term surplus space capacity, with retail businesses that require warehouse and logistic services on an on-demand basis. CBRE will be Stowga’s strategic real estate advisory partner and as part of the agreement, CBRE has made an equity investment in Stowga.
Demand for flexible storage is expected to increase, fuelled by the growth of omni-channel retailing and other trends. CBRE will transact ‘on demand’ and short-term logistics requirements for clients through Stowga’s platform. The use of the Stowga platform will allow landlord and occupier clients to capture additional revenue opportunities from surplus and underutilized space.
Martin Samworth, CEO, EMEA at CBRE, said; “Technological advances are driving an ever-increasing omni-channel environment, which brings unique challenges but also fantastic opportunities for our clients. Our strategic relationship with Stowga demonstrates CBRE’s commitment to remaining at the forefront of digital innovation and at the heart of the ‘business of retail’, which in turn provides our clients with improved flexibility, cost optimisation and a true competitive advantage.”
Charlie Pool, founder and CEO of Stowga, said; “CBRE is the leading real estate advisor in the warehousing and logistics sector and our partnership with them means we can accelerate our mission to create a network of spaces where inventory is not constrained by static space, and is instead stored in exactly the right place, at the right time. In doing so we will optimise warehouse space, generating more money for their operators whilst providing a better service and reducing costs for their customers.”
Lucy Sulkin, CBRE
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