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The firm has named the new leader of its Pacific capital markets office division, who will bring over two decades of office investments expertise ahead of substantial activity in the sector.
CBRE has announced that James Parry will take leadership of the firm’s Pacific capital markets office team, in addition to continuing in his previous role as NSW state director of capital markets office.
Parry brings over 24 years of property experience and has accrued a comprehensive knowledge of the institutional office investments sector since joining CBRE in 2017, which has helped him to achieve several Sydney CBD transactions valued in excess of $400 million.
In his new role at the helm of CBRE’s Pacific capital markets office team, Parry will be supported by CBRE’s team of capital markets office leaders situated across Australia’s jurisdictions, amid rising demand for office investment opportunities.
CBRE noted that Parry’s appointment coincided with a shift in investment sentiment towards the office sector, with the firm’s 2024 transaction data highlighting that $29.2 billion in Australian office, retail, industrial, hotel and living sector assets changed hands last year, marking a 21 per cent increase on 2023 levels.
Notably, office registered the biggest comeback in this period, according to CBRE, with the circa $8.4 billion in office asset transactions registering a 56 per cent increase year on year, which the firm said “came off a low base, after a challenging period for office markets globally”.
Looking forward, Parry noted that “while the office sector has shown signs of recovery, we anticipate that office investment volumes will remain constrained in the short term”.
“In this environment, having a team of highly experienced experts in every state will be a key differentiator in creating successful outcomes for our clients,” Parry said.
CBRE’s previous Pacific capital markets office leader, Flint Davidson, noted that Parry has had an “enormous impact on the direction of the business” since joining CBRE eight years ago, as a result of his “genuine client focus and growth mindset”.
“I am delighted to announce James’ appointment, which further strengthens our ability to support our clients in the office sector’s next growth cycle,” Davidson said.
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