CBRE announces leadership changes at CBRE Global Investors and Trammell Crow Company

Los Angeles, 2016-Mar-17 — /EPR Retail News/ — CBRE Group, Inc. (NYSE:CBG) today announced senior leadership changes in its real estate investment subsidiaries, CBRE Global Investors – a global real estate investment management firm – and Trammell Crow Company – a U.S. real estate development services business. The announcement was made by Bob Sulentic, CBRE’s President and Chief Executive Officer.

Matt Khourie, who has served as CEO of CBRE Global Investors for the past six years, has been named CEO of Trammell Crow Company.  This move marks a return to the real estate development business for Mr. Khourie, who was a senior leader at Trammell Crow Company for 29 years before joining CBRE Global Investors in 2009.

“Matt has made many vital contributions to Global Investors during his tenure as CEO, including delivering strong investment performance for its clients and expanding its footprint,” Mr. Sulentic said. “He is particularly well-suited to lead our Trammell Crow Company business. He is returning to a business where he enjoys tremendous relationships, having been an extremely successful executive at the firm for many years.”

Ritson Ferguson has been named CEO of CBRE Global Investors.  Mr. Ferguson has served on Global Investors’ Global Investment Committee since 2011 and as Chief Investment Officer since 2015. He will also remain as CEO of CBRE Clarion Securities, the company’s real estate securities business.

“Ritson is the ideal successor for Matt,” Mr. Sulentic said. “He has outstanding investment acumen, experience running global strategies and producing great outcomes for our clients, as well as a deep understanding of the Global Investors business, including leading firm-wide investment strategy and execution as CIO.”

Danny Queenan, who was named COO of CBRE Global Investors in August 2015 and also served as CEO of Trammell Crow Company since 2011, will now concentrate the vast majority of his time and energies on running CBRE Global Investors’ operations and strategic initiatives. Although he will not have a day-to-day role in Trammell Crow Company, he will remain active in this business at a strategic level, serving on its Board of Directors.

“Danny has done a superb job of running Trammell Crow Company and now Global Investors will benefit from the increased time and attention he can devote to the business,” Mr. Sulentic said.

“We are very excited to have Matt, Ritson and Danny in these roles,” Mr. Sulentic added.  “Their responsibilities reflect the depth of our senior leadership talent and allow us to capitalize on the skills and experience of three accomplished real estate investment executives. This is consistent with our efforts to deliver great results for clients, employees and shareholders.”

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue).  The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide.  CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.  Please visit our website at www.cbre.com.

Media Relations
+1 212 9848267
Robert.McGrath@cbre.com

CBRE Group top-ranked global firm for commercial real estate investment sales during 2015 according to Real Capital Analytics

Los Angeles, 2016-Mar-17 — /EPR Retail News/ — CBRE Group, Inc. (NYSE:CBG) was the top-ranked firm for commercial real estate investment sales throughout the world during 2015, according to Real Capital Analytics (RCA). CBRE has achieved the number one position in each of the five years that RCA has published global rankings.

RCA credited CBRE with 21.9% of market share* across all property types in 2015 on a global basis. CBRE is the top ranked firm in RCA’s global rankings for office, industrial, retail, apartment and development sites.

RCA—which tracks global commercial real estate sales of $10 million and greater—estimates that approximately $1.21 trillion of commercial real estate, excluding entity level transactions, was sold throughout the world in 2015. Indicative of its market share gains, CBRE’s investment sales volume grew at a faster pace than the market as a whole in 2015, rising by 30.7% to approximately $125.7 billion, according to RCA.

“We are working in an increasingly global and complex environment, and on more structural transactions; the capital is diverse and coming from every corner of the world. As advisors, we need to be connected to it and the capital to us. This has been a stellar year for our clients and CBRE is privileged to create real competitive advantage for them,” said Chris Ludeman, Global President, Capital Markets, CBRE.

Highlights from RCA’s 2015 rankings include:

  • CBRE claimed the top position in office sales in 2015, with $52.8 billion in transactions—an increase in volume of 48.3% year-over-year. CBRE increased its office sales market share by 640 basis points (bps) in 2015 to 22.3%.
  • CBRE also rose to the top position in retail sales, with $16.5 billion in transactions. CBRE increased its retail sales market share by 370 bps in 2015 to 17.4%.
  • CBRE was again the top firm in logistics and industrial sales, with $18.4 billion in transactions and a market share of 32.5%, an increase of 250 bps.
  • CBRE executed $26.6 billion in apartment sales, for an industry-leading market share of 23.6%.
  • CBRE’s development site sales totaled $7.4 billion—an increase in volume of 94.7% year-over-year. CBRE increased its development site market share to 30.3%.

* Market share has been calculated based on the dollar volume of transactions where CBRE represented the seller, divided by the total volume of seller-brokered transactions.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue).  The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide.  CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.  Please visit our website at www.cbre.com.

Media Relations
+1 212 9848267
Robert.McGrath@cbre.com

CBRE Group announces the appointment of Paula R. Reynolds to its Board of Directors

Los Angeles, 2016-Mar-17 — /EPR Retail News/ — CBRE Group, Inc. (NYSE:CBG) today announced that Paula R. Reynolds, an accomplished senior executive and highly experienced board member, has been appointed to its Board of Directors.

Ms. Reynolds served as Chief Executive Officer of Safeco Corporation, a Fortune 500 property and casualty insurance company, until its acquisition by Liberty Mutual Group in 2008.  She then served as Chief Restructuring Officer at American International Group, overseeing the divestiture of assets and serving as chief liaison with the Federal Reserve Bank of New York.  Earlier in her career, she served as Chairman & Chief Executive Officer at AGL Resources, a natural gas operator, and held a variety of other senior executive positions.

Ms. Reynolds has led her own business advisory firm, PreferWest, LLC, since 2009.  She currently serves on the Boards of Directors of BP p.l.c., BAE Systems plc and TransCanada Corporation.

“Paula is a wonderful addition to our Board,” said Ray Wirta, CBRE’s Chairman of the Board. “We will benefit significantly from her extensive, far-reaching experience and proven strategic insight.”

“I am very pleased to join the CBRE Board,” Ms. Reynolds said. “The company is the leading firm in commercial real estate services and has a well-established strategy to strengthen its market position.  I look forward to working with my fellow directors to help the company continue its success and further build shareholder value.”

In 2014, the National Association of Corporate Directors recognized Ms. Reynolds with a lifetime achievement award for exceptional contributions as a board member. She previously served on the Boards of Directors of Anadarko Petroleum Corporation, Delta Air Lines, Inc., Safeco Corporation, Coca-Cola Enterprises, Inc. and Air Products and Chemicals Inc.

Ms. Reynolds chairs the Board of Trustees at the Fred Hutchinson Cancer Research Center. She holds a B.A. degree from Wellesley College.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue).  The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide.  CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting.  Please visit our website at www.cbre.com.

Media Relations
+1 212 9848267
Robert.McGrath@cbre.com

Best Buy presented at International Home & Housewares Show

MINNEAPOLIS, 2016-Mar-17 — /EPR Retail News/ — Smart appliances are getting smarter, and we’re not just talking washers, dryers and refrigerators.

Want a coffee maker that tells you when to buy more beans? Need a blender to tell you the exact nutritional information of your smoothies? How about an air purifier that lets you see the process?

All those innovations — and more — were on display at the International Home & Housewares Show last week in Chicago. Best Buy’s appliance merchandising team, which handles one of the company’s fastest-growing categories, was there.

Team members met with vendors and roamed the three enormous exhibit halls at McCormick Place to see where the appliance category is heading. They invited me to tag along.

Here are my highlights:

Things that you might not think are connected

  • Air Purifiers: Air purifiers are the rage. Do they work? Yes, and with some vendors, you can actually see them working. Scan a QR code on the machine, and it gives you a 3D image of (dirty) air particles coming in one side of the machine, and going out (clean) the other.
  • Toothbrushes: This is for real. Connect your kid’s toothbrush to your (or their) smartphone and unlock cool games based on the time spent and accuracy of brushing.
  • Blenders: Connect tablet to a blender/scale for recipes and exact nutritional content for smoothies and other things.
  • Coffeemakers: Turn on the coffee pot from your bed. Some models also track how much coffee is left and will tell you when to reorder.
  • Water bottles: There are connected water bottles/tops that sync with fitness apps. It monitors your water intake for the day, and based on your height, weight and workout patterns, tells you how much you should be drinking.

Sous Vide

Sous vide is a cooking method where you seal food in airtight plastic bags and place in temperature-controlled water to cook. Many home options are now becoming available. These are also connected machines – you can determine when they turn on, and the exact cooking temperature.

Colors

Colors are crucial in the small appliance category, and Pantone introduced 112 new colors for this year at the show.

Check out the small appliances for sale now at Best Buy, or stop by a nearby store to see them in person.

 

###

Best Buy presented at International Home & Housewares Show

Best Buy presented at International Home & Housewares Show

Best Buy: Brad Anderson retires from the board; Claudia Fan Munce appointed to the Board

MINNEAPOLIS, 2016-Mar-17 — /EPR Retail News/ — Best Buy Co., Inc. today announced that former CEO Brad Anderson will retire from the Board of Directors and that the company has appointed corporate venture capital leader Claudia Fan Munce to the Board, effective March 14.

Anderson will serve the remainder of his term through the end of the annual shareholder meeting on June 14. Munce will stand for election at that time.

Anderson retires from the Board

Anderson started his second stint on the Board in March 2013. He formerly worked at Best Buy for more than 35 years, serving as CEO (2002-09) and president and chief operating officer (1991-2002). He also served on the Board from 1986 to 2010.

Anderson, who first joined the company in 1973 as a salesman at a Sound of Music store, played a key role in Best Buy’s expansion and transformation during his tenure as an executive. As CEO, he oversaw a period of rapid growth during which the company doubled in size to more than 1,000 stores and $40 billion in annual revenue.

“I would like to thank Brad for his many years of dedicated service to Best Buy and its shareholders,” Chairman and CEO Hubert Joly said. “His knowledge of the company, its culture and its unique role in the consumer electronics marketplace has been invaluable to me and the executive team as we transformed this company. All of us will miss having him on the Board, but we know he remains a passionate and loyal supporter of the company he was so instrumental in building.”

Anderson said: “It has been a tremendous experience to rejoin the Board and work with Hubert and his leadership team on what has been a remarkable transformation of the company. I leave the Board with great optimism for the future of Best Buy and will continue to be one of its biggest fans.”

Munce appointed to the Board

Munce is a venture advisor at New Enterprise Associates (NEA), one of the world’s largest and most active venture capital firms. She joined NEA earlier this year after spending 30 years at IBM Corp. Most recently, she was a founding member and managing director of IBM Venture Capital Group and a vice president of IBM Corporate Development. In her role, she formed strategic relationships with top venture capitalists in Silicon Valley and around the globe to drive IBM’s growth in new markets through partnerships and acquisitions.

“As a respected leader in the venture community, Claudia brings extensive experience in identifying emerging technologies and helping tech startups come to life,” Joly said. “We are honored to welcome her to the Best Buy Board of Directors and look forward to the contributions she is certain to make toward our strategic growth initiatives.”

“For the past 15 years, I’ve been on the front lines of innovation, engaging with startups and VCs around the world, and I’m a big believer that we are in an era of incredibly rapid innovation that is transformative to the retail industry,” Munce said. “I hope to be able to use my knowledge to help Best Buy find the intersection where innovation can impact the company’s strategy.”

She added: “I believe Best Buy can lead the industry and totally transform the customer experience. Even as someone with a master’s degree in computer science, I still need technical support sometimes because of the increasing complexity of technology. Best Buy is well positioned to help consumers get through the complexity to leverage and enjoy the incredible technology innovations happening today.”

Munce serves as a board member for Bank of the West, the National Venture Capital Association and Global Corporate Venturing. She also has served on the boards of many global venture capital organizations, including the Latin American Venture Capital Association, Women in Leadership in Private Equity (China), Canadian Innovation Exchange and Savannah Fund (Africa).

Munce, 56, was born in Taiwan and grew up in Brazil. She holds a master’s degree in computer science from the Santa Clara University School of Engineering and a master’s degree in management from the Stanford University Graduate School of Business.

Investor Contact: 

Mollie O’Brien, 612-291-7735
mollie.obrien@bestbuy.com

Media Contact: 
Jeff Shelman, 612-291-6114
jeffrey.shelman@bestbuy.com