Car manufacturer Nissan Europe S.A.S has appointed CB Richard Ellis as its strategic property advisor for Europe.

CBRE already advises Nissan in North America, and the European contract, which includes transaction and consultancy support, is the first of its king awarded in Europe by Nissan.

Mark Steele, general manager G&A controller at Nissan in Europe, said: ‘The appointment of CBRE is an important step in the development of our integrated global business support infrastructure. In a climate where operational efficiency is vital to success, we are committed to driving the performance of our property portfolio, taking full advantage of favorable property market conditions and maximising the value from our existing assets.’

Matthew Pullen, head of CBRE global corporate services, Europe, the Middle East and Africa, said: ‘Current market conditions represent a significant opportunity for occupiers to reduce their exposure to real estate risk and cost through leveraging a unique set of property market dynamics. Property markets globally continue to favour the occupier with falling rents and increased vacancy in many markets.’