CBRE appoints Caiti Morgan to head retail capital markets business

CBRE has appointed Caiti Morgan to the new position of Senior Director, Capital Markets - Retail, to lead and grow the company’s specialist retail sales capability in New Zealand as part of the market-leading CBRE Pacific Capital Markets Retail team.

Caiti is a highly experienced property professional with a background in valuation and consultancy. She is based in the company’s Christchurch office working closely alongside CBRE’s national capital markets sales team in Auckland, Wellington and Christchurch, as well as its specialist retail capital markets team in Sydney.


Tim Rookes, Managing Director of CBRE Christchurch, said Caiti’s experience in retail investment and advisory is of significant value to the company, at a time when retail property assets continue to gain investors’ attention in the high interest rate environment.

“Caiti brings a wealth of experience and specialist retail property knowledge, which is invaluable in assisting our clients who are evaluating retail investments in the context of ongoing global economic challenges. We are thrilled to have her on board at this pivotal time in the recovery of the retail investment market.”

Caiti has previously held senior valuation and advisory positions at CBRE and Cushman and Wakefield in Canada, leading assignments on some of the largest and most productive malls in North America. She has represented many of the top institutional and private retail property owners and managers globally over the past 18 years. 

“CBRE’s domestic expertise and relationships coupled with its specialist international reach is what drew me to the role,” she said.

Retail property fundamentals in New Zealand are sound in comparison with many offshore markets, highlighting a positive outlook for investment here as the market recovers, said Morgan.

“The majority of the retail sector in New Zealand weathered the pandemic well, and is still displaying resilience despite the downtown in consumer spending. Even with the current challenging economic conditions, many national and international retailers appear well capitalised and rent levels remain affordable compared with their trading revenue.”

CBRE’s 2024 New Zealand Market Outlook shows rents in Auckland regional shopping centres were more resilient than those in major Australian cities through Covid. Auckland regional shopping centre rents also experienced higher growth over the past decade than those in Australian cities, demonstrating the resilience of this market.

In addition, New Zealand’s tight zoning controls limit the supply of retail property, while continued population growth bolsters the demand side of the retail equation. 

“Retail in New Zealand has a solid forward outlook as a result of these drivers, which is why we are seeing more investors looking at the sector,” said Morgan.