The CBRE Shanghai Advisory & Transaction Services – Retail team was commissioned by Italian luxury group OTB to lease four flagship stores in the heart of West Nanjing Road CBD as China’s prosperous domestic spending gave a big lift to retailers’ confidence.

In the transaction, CBRE assisted OTB Groups’ four premium brands – Maison Margiela, Marni, Jil Sanders and Amiri – in acquiring duplex flagship units covering over 2400sqm of space at JC Plaza with a façade extending 117meters wide and 35 meters high.

Previously the Shanghai JC Mandarin Hotel, the JC Plaza was acquired by Baohua Group and was rebuilt into a commercial project with approximately 20,000 sqm of retail space over 5 floors and about 36,000 sqm of Grade A office tower.

CBRE was appointed by JC Plaza in commercial positioning services and represented both the landlord and occupier in the OTB transaction.

“This newly renovated historic landmark situated in a highly desirable location is an attractive position for retailers, as they look to impress consumers and showcase innovative shopping experiences with the delivery of avant-garde concept stores,” Kelly Hu, Director of Retail, CBRE East China, said.

The West Nanjing Road area, where JC Plaza is located, is now host to more than 10 five-star hotels, 1.6 million square meters of prime skyscrapers, several upscale shopping centers and restaurants.

“This is the destination for most first-in Shanghai brands, where luxury and trendy fashion flourish together. It boasts over 1,600 international and domestic brands, with over 60% renowned international brands,” Mario Zaccagnini, Director of Retail, CBRE East China, said.

Underscoring CBRE’s multidimensional expertise across all aspects of commercial real estate, CBRE’s Office team also helped prestigious companies relocate their headquarters to JC Plaza, with the CBRE Property Management team now managing the facility.