The Lipsey Company named CBRE the top global brand in commercial real estate for the 17th consecutive year

Los Angeles, 2018-Feb-23 — /EPR Retail News/ — CBRE Group, Inc. today (February 21, 2018) announced that The Lipsey Company has named CBRE the top global brand in commercial real estate for the 17th consecutive year.

Lipsey, a training and professional development firm specializing in commercial real estate, has surveyed commercial real estate professionals on their perceptions of the industry’s leading brands since 2002. CBRE has been ranked number one every year that Lipsey has conducted its brand survey. In 2018, more than 150,000 U.S. and international professionals participated in the survey, including property owners, investors, lenders, occupiers, brokers and property managers.

“The business environment has changed significantly in 17 years, but one constant has been the intense focus of CBRE’s professionals in delivering exceptional outcomes for our clients,” said Bob Sulentic, president and chief executive officer of CBRE. “The Lipsey survey results provide another testament to their efforts.”

Earlier this month CBRE was recognized as one of the 100 Most Sustainable Companies in the U.S. by Barron’s and was named one of the 2018 World’s Most Ethical Companies® for the fifth year in a row. Both FORTUNE and Forbes also recently named CBRE one of the best U.S. workplaces for diversity.

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 (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

CBRE recognized as a 2018 World’s Most Ethical Company® by the Ethisphere Institute

LOS ANGELES, CA, 2018-Feb-14 — /EPR Retail News/ — CBRE Group, Inc. (NYSE:CBG) has been recognized as a 2018 World’s Most Ethical Company® by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. This is the fifth year in a row CBRE has achieved this recognition.

“Our clients trust CBRE to not only deliver exceptional client outcomes but to act with integrity in all areas of our business, which our people do day-in and day-out,” said Bob Sulentic, president and chief executive officer of CBRE.

Ethisphere honors companies that influence and drive positive change, consider the impact of their actions on their employees, investors, customers and other key stakeholders and use their values and culture to underpin the decisions they make every day. Companies are evaluated in five key categories: ethics and compliance program, corporate citizenship and responsibility, culture of ethics, governance, and leadership, innovation and reputation.

“While the discourse around the world changed profoundly in 2017, a stronger voice emerged. Global corporations operating with a common rule of law are now society’s strongest force to improve the human condition. This year we saw companies increasingly finding their voice. The World’s Most Ethical Companies, in particular continued to show exemplary leadership,” explained Ethisphere’s CEO, Timothy Erblich. “I congratulate everyone at CBRE for being recognized as one of the World’s Most Ethical Companies.”

Earlier this year CBRE was included on the 2018 America’s Best Employers For Diversity list by Forbes, the only commercial real estate company to receive this honor. In December 2017, FORTUNE magazine also named CBRE one of the best U.S. workplaces for diversity.

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 (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

SOURCE: CBRE

Media Contacts
CBRE Logo
Robert McGrath
Corporate Communications, Global

CBRE named to the 2018 America’s Best Employers For Diversity list by Forbes

Los Angeles, 2018-Jan-26 — /EPR Retail News/ — CBRE Group, Inc. (NYSE:CBG) has been named to the 2018 America’s Best Employers For Diversity list by Forbes. The company earned a #45 ranking on the list of 250 organizations and is the only commercial real estate company to receive this honor.

The Forbes ranking is the result of employee responses to surveys that asked about diversity, gender, ethnicity, sexual orientation, age and disability. Other factors considered were the gender split of management teams and boards, and the company’s proactive communication about diversity.

“CBRE prides itself on creating a work environment that supports all of our employees and values the differences of each individual,” said Bobby Griffin, Vice President of Diversity and Inclusion for the Americas at CBRE. “We are honored to be named to this list and we will continue our efforts to celebrate the unique qualities that our employees bring to our company.”

Forbes and the research firm Statista surveyed 30,000 U.S. employees in companies that have at least 1,000 employees.

Click here to review the full list on forbes.com.

In December 2017, FORTUNE magazine also named CBRE one of the best U.S. workplaces for diversity.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Media Contacts:

Robert McGrath
Senior Director
+1 212 9848267

Source: CBRE

CBRE appoints Brian Harringon and Brennan McReynolds to leadership positions for CBRE 360

Los Angeles, 2018-Jan-26 — /EPR Retail News/ — CBRE has appointed Brian Harringon and Brennan McReynolds to leadership positions for CBRE 360, the company’s new capability focused on delivering enhanced employee experiences in the workplace. Mr. Harrington will be Chief Product Office for CBRE 360 while Mr. McReynolds will serve as Senior Vice President, Business Development & Operations for CBRE 360.

“Brian and Brennan have a track record of helping organizations to develop user-focused solutions that meet clients’ needs,” said Andrew Kupiec, Global President – CBRE 360. “Combining their consumer expertise with CBRE’s leadership in workplace solutions and building management will accelerate our ability to guide clients through the radically changing world of work.”

CBRE 360 helps property investors and occupiers create customized workplace solutions by integrating property services and amenities with advanced digital technologies. The capability leverages CBRE’s market-leading strengths in workplace strategy and occupancy planning, design and build-out, and property and facilities management, with its growing technology capabilities.

Mr. Harrington is a senior marketing and product executive with experience in early-stage, high-growth and global service organizations including both public and private companies. Most recently he was the inaugural entrepreneur in residence for the Carroll School of Management at Boston College and earlier Chief Marketing Officer for Zipcar, the world’s leading car sharing service. In this global role he oversaw all brand experience, member acquisition and engagement, public relations, policy and partnership efforts.

Mr. McReynolds was most recently Chief Operating Officer at Event Farm, a B2B marketing technology platform, where he oversaw operations, finance and experiential technology. As one of Event Farm’s initial hires in 2011, he was instrumental in the shift to a SaaS based business model, securing venture funding and the overall growth of the company. During the 2016 Summer Olympics, in Rio, he spent 30 days on the ground lead the technology platform that enabled Nike’s athlete and VIP brand experience during the games.

CBRE 360 builds on the company’s industry-leading expertise in workplace solutions and its management of more than 5 billion sq. ft. of space for premier corporations and property investors worldwide. It also leverages CBRE’s considerable experience with its own Workplace360 (free-address, tech-enabled, collaboration-enhancing offices) initiative, which has driven higher employee engagement and efficiency gains at more than 60 CBRE global offices since its launch in 2013.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Media Contacts:

Robert McGrath
Senior Director
+1 212 9848267

Source: CBRE

CBRE announces the promotion of Bill Concannon to the position of Global Group President

LOS ANGELES, CA, 2018-Jan-19 — /EPR Retail News/ — CBRE Group, Inc. (NYSE:CBG) today announced the promotion of Bill Concannon to the position of Global Group President.

Mr. Concannon, who leads CBRE’s occupier outsourcing business (called Global Workplace Solutions), is one of three senior CBRE executives with the Global Group President title.  This designation is reserved for CBRE’s most senior leaders with global, market-facing responsibilities. It reflects outstanding leadership within their areas of responsibility, and significant contributions to the company’s success – and the success of its clients – across the entire enterprise.

“Bill has made exceptional, ongoing contributions to our company over three decades,” said Bob Sulentic, CBRE’s president and chief executive officer.  “He pioneered the occupier outsourcing concept in our sector in the early 1990s. Through a passionate commitment to excellence, leadership by example and strategic thinking, he has built our Global Workplace Solutions offering into a $6.4 billion revenue business – one that is known for generating  exceptional results for our clients.”

The other senior CBRE executives with the Global Group President title are Cal Frese and Mike Lafitte, who share responsibility with Mr. Concannon for all of CBRE’s geographic and services business line operations.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

SOURCE: CBRE

MEDIA CONTACT
Robert McGrath
Senior Director
+1 212 9848267
FAX +1 212 9848207

CBRE: U.S. office space vacancy increased to 13 percent during Q4 2017

Los Angeles, 2018-Jan-15 — /EPR Retail News/ — Vacant office space in the U.S. increased slightly by 10 basis points (bps) during the fourth quarter of 2017 (Q4 2017) to 13 percent, according to the latest analysis from CBRE. For the year, vacancy inched up 10 bps, marking the first year-over-year increase in vacancy since 2010.

The vacancy rate in suburban markets increased 10 bps, to 14.2 percent and downtown vacancy ticked up 10 bps to 10.7 percent. Vacancy continued to fall in a majority of U.S. office markets, and the national office vacancy rate remains near its post-recession low.

“The fourth quarter’s slight office vacancy rise can be attributed to an increase of supply and a slight loosening in the tightness of the market as we have closed in on the previous cyclical low,” said Spencer Levy, Americas’ head of research for CBRE.

The largest metro-area declines were recorded were recorded in Riverside (-80 bps), Salt Lake City (-70 bps) and Richmond (-60 bps). Tucson, Wilmington, Louisville, and Indianapolis, each declined by 60 bps or more. In the past four quarters, the vacancy tightening has been found in mid-sized markets located predominately across the Sun Belt, including Tucson, Las Vegas, Richmond, Albuquerque, Louisville, Orlando, Wilmington, Tampa, Phoenix, Kansas City, Riverside, Detroit and Jacksonville. The nation’s lowest vacancy rates list in Q4 2017 were led by tech markets: Seattle (7.6%), San Francisco (7.8%), Austin (8.2%), Raleigh (8.3%), New York (9.4%), and Boston (9.8%).

“Despite the slight rise in vacancy, we see the new supply as healthy overall, as many markets were becoming space constrained, in particular for large block space,” added Mr. Levy.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Media Contacts:

Robert McGrath
Senior Director
+1 212 9848267

SOURCE: CBRE

CBRE named one of America’s Most JUST Companies by Forbes and JUST Capital

LOS ANGELES, CA, 2017-Dec-14 — /EPR Retail News/ —
CBRE Group, Inc. (NYSE:CBG) today announced that it has been named one of America’s Most JUST Companies by Forbes and JUST Capital.

Forbes and JUST Capital evaluate U.S.-based public companies based on measures of corporate citizenship, including employee relations, quality of goods and services, client service, environmental impact, community support, diversity and ethical conduct. Nearly 1,000 companies are considered for inclusion in the JUST 100.

“We work hard to create an environment where our people can build rewarding careers while producing great client outcomes and making a positive impact on their communities,” said Bob Sulentic, president & chief executive officer, CBRE. “We are proud that Forbes has recognized our efforts and thank our talented professionals for continuing to distinguish CBRE.”

JUST Capital is a nonprofit research organization that seeks to provide stakeholders—employees, concerned citizens, business leaders and others—with information to assess how “just” companies are.

Earlier this month CBRE was named a 2017 Best Workplace for Diversity by FORTUNE and Great Place to Work®. Additionally, CBRE has been in both the FTSE4Good Index and the Ethisphere Institutes’ World’s Most Ethical Company list every year since 2014. It also has received an EPA ENERGY STAR® Partner of The Year — Sustained Excellence Award for 10 consecutive years.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

SOURCE: CBRE

Media Contacts

Robert McGrath
Senior Director
+1 212 9848267

CBRE named a 2017 Best Workplace for Diversity in the United States by FORTUNE and Great Place to Work®

LOS ANGELES, CA, 2017-Dec-11 — /EPR Retail News/ — CBRE Group, Inc. (NYSE:CBG) today announced that it was named a 2017 Best Workplace for Diversity in the United States by FORTUNE and Great Place to Work®.

“We are honored to be named a FORTUNE Best Workplaces for Diversity,” said Bobby Griffin, CBRE’s Vice President of Diversity and Inclusion for the Americas. “This award highlights the work CBRE is doing to continue to fulfill our mission of providing a work environment that attracts, develops and celebrates the professional success of every individual.”

FORTUNE and Great Place to Work considered more than 440,000 employee surveys from organizations in a wide range of industries across the U.S.

Great Place to Work, a research and consulting firm, evaluated more than 50 elements of team members’ experience on the job. These included professional development, behaviors linked to innovation, leadership confidence and consistent treatment among employees of different backgrounds.

More information on CBRE’s diversity and inclusion efforts can be found here. Learn more at Greatplacetowork.com

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.SOURCE: CBREMedia Contacts

Robert McGrath
Senior Director
tel +1 212 9848267
fax +1 212 9848207

CBRE welcomes Curt Grantham as Global President of Project Management

Los Angeles, 2017-Nov-16 — /EPR Retail News/ — CBRE today (November 13, 2017) announced that Curt Grantham has been appointed to a new role as Global President of Project Management.  Mr. Grantham will drive strategy, growth and client outcomes for CBRE’s Project Management businesses across all geographic regions.

Mr. Grantham has been with CBRE for 33 years and has served in a number of leadership roles in both the Company’s geographic businesses and lines of business. Most recently, he led CBRE’s GWS Client Solutions organization globally, which encompasses sales and solutions, including contracting and pricing, as well as client strategy and management consulting teams.

“Curt is a proven leader with a keen understanding of our clients’ needs and our businesse’s capabilities,” said Mike Lafitte, CBRE’s Global Group President, Lines of Business. “In his new role, he will ensure we continue to deliver exceptional client outcomes, while capitalizing on opportunities to collaborate as well as share expertise and best practices.”

Prior to his GWS client solutions role Mr. Grantham was President of the Americas for the GWS business for CBRE. He will continue to be based in Charlotte.

In October CBRE strengthened its project management services with the acquisition of Heery International (now operating as CBRE | Heery), a leader in providing project management, design and commissioning services for a wide range of corporate, government, healthcare, sports, aviation and education clients.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

CBRE hosted its first-ever simulcast for members of its Women’s Network

Live Event Viewed by Thousands Of Members Worldwide

Los Angeles, 2017-Nov-16 — /EPR Retail News/ — CBRE hosted its first-ever simulcast for members of the CBRE Women’s Network, on November 9. The live-streaming presentation, called “A Conversation with Amy Cuddy,” was viewed by more than 3,000 CBRE women and men across the U.S., Canada, Latin America and Australia.

Amy Cuddy, the keynote speaker, is a Harvard Business School professor who studies how nonverbal behavior and snap judgments affect people in business settings. She spoke in person, exclusively to the Women’s Network at the main event in New York City, and her presentation was broadcast to more than 80 CBRE viewing locations worldwide.

The simulcast was the cornerstone of a half-day, professional development opportunity for all CBRE women. Along with the live presentation, each local event included a special program that focused on professional success, and offered members additional opportunities to gain vital knowledge, make professional connections and build business-related skills. Women at the event were also able to connect directly with attendees in locations around the world through social media and an exclusive event app.

“The Women’s Network strives to provide programming and valuable experiences for all CBRE women,” said Lisa Konieczka, the network’s chairperson and executive vice president in the company’s Chicago office. “This one event has sparked deeper conversations about our own ‘personal power,’ created connections across the company and provided thousands of Women’s Network members with content, ideas and opportunities that will move them closer to their professional goals.”

The CBRE Women’s Network was formed in 2000 and has more than 3,000 members from all levels of the organization, the company’s three regions and every business line. The group’s mission is to “Promote the Success of Women,” which is guided by three key principles: Growth, Connection and Mentorship.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

CBRE acquires Streetsense’s retail brokerage operations

Los Angeles, 2017-Nov-16 — /EPR Retail News/ — CBRE Group, Inc. (NYSE: CBG) today (November 15, 2017) announced it has acquired a 50% interest in Streetsense, a privately-held strategy and design company, creating a joint venture to provide services that help retailers and other clients create compelling consumer experiences.

As part of the strategic investment in Streetsense, CBRE has acquired Streetsense’s retail brokerage operation, which serves clients in the greater Washington, D.C. market. The firm’s 17 professionals have joined CBRE and the new brokerage business will be called Streetsense|CBRE. The combination of Streetsense’s and CBRE’s highly talented professionals significantly strengthens CBRE’s presence in the Washington, D.C. market and further solidifies its best-in-class retail offering nationally.

“Streetsense’s focus on ‘creating brands people love and places people love to be’ will be amplified by CBRE’s powerful service offering, client base and commitment to innovation. Together, we strengthen our ability to connect with end-users across industries and geographies,” said Anthony Buono, CBRE Executive Managing Director, Americas Retail Advisory & Transactions Services.

Streetsense was founded in 2001 and has become known for helping clients create emotional connections with their customers through insight-driven strategy and design. With offices in both Washington, D.C. and New York, the firm has created engaging brands, places and consumer experiences for a diverse range of clients including The Ritz-Carlton, JBG Smith, Interbake Foods, General Growth Properties, Chef Mike Isabella, and the Detroit Economic Growth Corporation.

“With CBRE as our partner, Streetsense is even better positioned to unlock value for brands and places and drive demand for clients,” said Brian Taff, President, Streetsense. “Our nearly 200 creative professionals will greatly benefit from CBRE’s broad range of advisory and transaction capabilities, as well as their international industry relationships. With CBRE, we have a partner that shares our vision to create transformative outcomes for our clients and their customers.”

CBRE’s consumer experience joint venture with Streetsense adds a critical component to CBRE’s toolkit for advising clients on real estate needs amid shifts driven by e-commerce and changing consumer preferences. CBRE’s suite of retail and omnichannel advisory services includes location analytics, store-portfolio optimization, predictive consumer analytics, supply chain services and retail project management.

Forward-Looking Statements
Certain of the statements in this release regarding the establishment of a joint venture with Streetsense and the acquisition of its brokerage operations, that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, our ability to successfully integrate Streetsense’s design, consulting and brokerage professionals with our existing operations in the U.S., as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2016, and our Form 10-Q for the quarter ended September 30, 2017. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at investorrelations@cbre.com.

About Streetsense
Streetsense is an experience-focused strategy and design collective that creates brands people love and places people love to be. Powered by in-depth insights and an interdisciplinary approach, we are experts at creating, transforming, and driving consumer demand to brands and places. To learn more about our impact, visit www.streetsense.com, and follow us on Twitter and Instagram at @realstreetsense and on Facebook at facebook.com/realstreetsense.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

RioCan-HBC JV engages CBRE and Brookfield Financial Real Estate Group to explore possible sale of its Vancouver property

Expects to close $200 million mortgage; proceeds to be distributed to HBC and RioCan Real Estate Investment Trust

TORONTO and NEW YORK, 2017-Nov-01 — /EPR Retail News/ — RioCan-HBC JV (“JV”), a joint venture between HBC (TSX: HBC) and RioCan Real Estate Investment Trust (“RioCan” (TSX:REI.UN) announced today (October 30, 2017) that it has engaged CBRE and Brookfield Financial Real Estate Group to explore a possible sale of its Vancouver property located at 674 Granville Street and currently occupied under a long term lease by Hudson’s Bay.

Additionally, the JV expects to close on a $200 million mortgage on the same property, the proceeds of which would be distributed on a pro-rata basis to the JV partners. The mortgage is expected to be for a term of four years at a rate of prime plus 1.0% and has no prepayment penalty in the event of a sale of the property. BMO Capital Markets Real Estate Inc. is acting as the exclusive advisor on this financing.

“We are exploring a sale of this flagship property as the Vancouver real estate market has appreciated significantly over the past several years. While no decision to sell has been made, we continue to explore opportunistic transactions to enhance shareholder value,” stated Richard Baker, HBC’s Governor, Executive Chairman and interim Chief Executive Officer. “We are committed to operating our Hudson’s Bay store at this location and any possible sale would include the continued operation of Hudson’s Bay at this property.”

About the RioCan-HBC Joint Venture
A limited partnership between HBC and RioCan Real Estate Investment, the RioCan-HBC Joint Venture owns or controls ten flagship properties in major cities across Canada, including Vancouver, Calgary, Ottawa, and Montreal, as well as a 50% interest in Oakville Place and Georgian Mall. Formed in 2015, the JV has a mandate to explore future acquisitions that would grow and diversify its real estate portfolio. As of June 30, 2017, the JV was owned 88.1% by HBC and 11.9% by RioCan.

For HBC Shareholders
Certain statements made in this news release are forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to the closing of a $200 million mortgage on the JV’s Vancouver property located at 674 Granville Street and the expected distribution of proceeds on a pro-rata basis to the JV partners, the expectation that the mortgage will be for a term of four years at a rate of prime plus 1.0% and that the mortgage has no prepayment penalty in the event of a sale of the property, and other statements that are not historical facts. Often but not always, forward-looking statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “believe”, “estimate”, “plan”, “could”, “should”, “would”, “outlook”, “forecast”, “anticipate”, “foresee”, “continue” or the negative of these terms or variations of them or similar terminology.

Although HBC believes that the forward-looking statements in this news release are based on information and assumptions that are current, reasonable and complete, these statements are by their nature subject to a number of factors that could cause actual results to differ materially from management’s expectations and plans as set forth in such forward-looking statements, including, without limitation, the following factors, many of which are beyond HBC’s control and the effects of which can be difficult to predict: (a) the possibility that the anticipated benefits from the JV are not realized; (b) the risk that the JV will not be able to close on the mortgage as described herein; (c) that there can be no assurance that any sale of the property by the JV will occur or at what price and upon what conditions, or for which the ultimate proceeds of which are used; and (d) credit, market, currency, operational, liquidity and funding risks generally, including changes in economic conditions, interest rates or tax rates. HBC cautions that the foregoing list of important factors and assumptions is not exhaustive and other factors could also adversely affect its results. For more information on the risks, uncertainties and assumptions that could cause HBC’s actual results to differ from current expectations, please refer to the “Risk Factors” section of HBC’s Annual Information Form dated April 28, 2017, the “Risk Factors” section of HBC’s MD&A dated September 5, 2017, as well as HBC’s other public filings, available at www.sedar.com and at www.hbc.com.

The forward-looking statements contained in this news release describe HBC’s expectations at the date of this news release and, accordingly, are subject to change after such date. Except as may be required by applicable Canadian securities laws, HBC does not undertake any obligation to update or revise any forrd-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements.

INVESTOR RELATIONS:
Elliot Grundmanis
646-802-2469
elliot.grundmanis@hbc.com

MEDIA:
Tiffany Bourré
(905) 595-7184
tiffany.bourre@hbc.com

Source: HBC

CBRE acquires San Francisco-based, technology-focused boutique real estate brokerage firm Custom Spaces

  • Acquisition Fortifies CBRE’s Technology Practice Globally and Creates the Premier Tech Practice in the Bay Area
  • Jenny Haeg, Custom Spaces’ Founder, Joins CBRE as Vice Chairman within its Advisory & Transaction Services business

LOS ANGELES, CA, 2017-Oct-23 — /EPR Retail News/ — CBRE Group, Inc. (NYSE: CBG) today announced the acquisition of the business of Custom Spaces, a San Francisco-based, technology-focused boutique real estate brokerage firm that advises leading technology companies such as Airbnb, Cruise Automation, Medium, Gusto and Coinbase, on occupancy strategies. The acquisition confirms CBRE as the leading real estate advisor in the Bay Area for technology companies and fortifies its Technology Practice globally.

Jenny Haeg, founder and CEO of Custom Spaces, will join CBRE as a Vice Chairman within its Advisory & Transaction Services business and will have a leadership role with CBRE’s global Technology Practice. This practice group consists of CBRE Advisory and Transaction Services professionals who collaborate to meet the real estate requirements of technology companies – from Fortune 100 multi-nationals to high-growth, mid-cap companies, to emerging venture capital backed start-ups.

“We are delighted that Jenny and her team have joined CBRE,” said Joe Wallace, Executive Managing Director, Bay Area, CBRE. “Tech companies operate in an incredibly dynamic environment. There are very few real estate advisors who, like Custom Spaces, both understand the unique requirements of the tech sector and can implement related plans quickly at scale. CBRE’s global service offering ensures that Custom Spaces and their clients have access to best-in-class strategy, analytics and real estate execution anywhere in the world.”

“Custom Spaces was founded to help technology companies scale and achieve their real estate objectives in a way that is consistent with their unique identity and culture. In speaking with CBRE leadership, it quickly became apparent that they shared our mission of a service-based firm that puts our clients’ needs first in a personalized way.  Joining forces with CBRE and leveraging their market-leading position globally and broad-based service offering, will enable us to do this for more clients, in more ways and in more markets. We are excited to continue building the definitive real estate platform for technology companies around the world,” said Ms. Haeg.

“We are excited to welcome Custom Spaces’ valued clients to CBRE. The combination of our two firms creates a powerful and market-leading platform to serve technology companies. We look forward to earning the right to help these important clients grow by consistently delivering exceptional outcomes – on every assignment,” said Jack Durburg, CEO, Americas, CBRE.

“Custom Spaces has built a very capable team and great brand through a tireless commitment to acting in the best interest of its clients and cultivating strong relationships. Joining forces with CBRE will undoubtedly bring access to cross-disciplinary expertise and horsepower that will only further help Airbnb achieve our real estate goals and objectives,” said Tido Pesenti, Director, Global Real Estate, Procurement & Travel, Airbnb.

Ms. Haeg founded Custom Spaces in 2011. In addition to the Bay Area, the firm has developed real estate solutions for tech companies in markets such as New York, Los Angeles, Tokyo and London.

Forward-Looking Statements
Certain of the statements in this release regarding the acquisition of Custom Spaces that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, our ability to successfully integrate Custom Spaces’ brokerage professionals with our existing operations in the U.S., as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2016, and our Form 10-Q for the quarter ended June 30, 2017. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at investorrelations@cbre.com.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

SOURCE: CBRE Group, Inc.

MEDIA CONTACT

Robert McGrath
Senior Director

CBRE: Vacant office space in the U.S. declined by 10 basis points (bps) during the third quarter of 2017

Suburbs Continue to Show Strongest Decreases

Los Angeles, 2017-Oct-11 — /EPR Retail News/ — Vacant office space in the U.S. declined by 10 basis points (bps) during the third quarter of 2017 (Q3 2017) dropping to 12.9 percent, according to the latest analysis from CBRE. Continuing a recent pattern, suburban office markets continued to set the pace for declines.

The vacancy rate in suburban markets decreased 20 bps, to 14.1 percent, while downtown vacancy dipped to 10 bps to 10.6 percent. Vacancy continued to fall in a majority of U.S. office markets, and the national office vacancy rate remains near its post-recession low.

”The slow, steady improvement in the office market continued in the third quarter after a second quarter pause. Demand remains positive but modest,” said Jeffrey Havsy, Americas’ chief economist for CBRE.

The largest metro-area declines were recorded in Trenton (220 bps), Las Vegas (140 bps) and Phoenix (110 bps). Tucson, Detroit, Memphis, Stamford and Richmond, each declined by 80 bps or more. In the past four quarters, the vacancy tightening has been found in mid-sized markets located predominately across the Sun Belt, including Tucson, Las Vegas, Albuquerque, Louisville, Orlando, Richmond, Detroit, Sacramento, Phoenix, Memphis and Jacksonville.

“September’s job report showed continued growth in office-using jobs and that growth is expected to lead to continued but relatively modest positive absorption. The supply pipeline in certain markets has started to increase and this may lead to a slowing of the vacancy decline in early 2018,” added Mr. Havsy.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Media Contacts:

Robert McGrath
Senior Director
+1 212 9848267

Source: CBRE

CBRE to acquire project management, design and commissioning services provider Heery International, Inc

Los Angeles, 2017-Oct-09 — /EPR Retail News/ — CBRE Group, Inc. (NYSE: CBG) today (October 5, 2017) announced a definitive agreement to acquire Heery International, Inc. (Heery), the project management and design engineering business of the international infrastructure group, Balfour Beatty LLC.

Heery, based in Atlanta, is a leader in providing project management, design and commissioning services across the U.S., with a wide range of corporate, government, healthcare, sports, aviation and education clients.

“This acquisition advances our strategy to grow our project management expertise and capabilities.  Heery has a strong track record of client service with many longstanding relationships spanning decades,“ said Mike Lafitte, CBRE’s Global Group President, Lines of Business. “Their deep project management expertise and strong leadership team are a great complement to CBRE’s existing capabilities in both our local market and account-based project management services.”

“We are particularly excited about Heery’s ability to deepen our relationships in the public and educational sectors, grow our position in such new vertical segments as aviation and sports, and add capabilities and expertise in design engineering services,” he added.

Upon closing of the acquisition, Heery will continue to be led by its President Theodore Sak and its COO Glenn Jardine.  Heery’s professionals will collaborate closely with CBRE’s project management teams who deliver services in local markets across the U.S. as well as its professionals who execute account-based project management programs through its corporate outsourcing business line, Global Workplace Solutions.

“We believe our expertise is a great fit with CBRE’s focus on delivering comprehensive, fully integrated commercial real estate solutions,” said Mr. Jardine. “We look forward to working with our new CBRE colleagues across the country to provide these solutions to a broader range of corporate and institutional clients than ever before and achieving further growth in our core markets.”

Founded in 1952, Heery has approximately 535 employees in 19 U.S. offices, providing services including project management, architecture, engineering, interior design, and commissioning.

CBRE maintains the largest network of professional commercial real estate project managers worldwide. Its more than 5,000 specialists, including 350+ LEED-certified professionals, oversaw projects with a total contract value of more than $42 billion worldwide in 2016.

The transaction is expected to close during the fourth quarter, subject to customary closing conditions. The business that CBRE is acquiring generally does not include, or CBRE is indemnified for, the at-risk construction management business within Heery International.

The purchase price is approximately $57 million.  This reflects a multiple of approximately 6 times projected 2017 adjusted EBITDA attributed to the acquired Heery business, after giving effect for anticipated run-rate cost synergies as well as the net present value of expected tax benefits.

Forward-Looking Statements
Certain of the statements in this release regarding the agreement to acquire of Heery International Inc. (Heery) that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, our ability to successfully integrate Heery professionals with our existing project management operations in the U.S., as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2016, and our Form 10-Q for the quarter ended June 30, 2017. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at investorrelations@cbre.com.

 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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Contact:
Steve Iaco
Senior Managing Director
+1 212 9846535

Source: CBRE

CBRE expands role of GWS Executive Managing Director Karen Ellzey to include Co-Executive Sponsor of LGBT & Allies

Los Angeles, 2017-Sep-22 — /EPR Retail News/ — CBRE today (September 20, 2017) announced that Karen Ellzey, CBRE Executive Managing Director, Global Workplace Solutions (GWS), has taken a leadership role for LGBT & Allies. Ms. Ellzey will serve as the Co-Executive Sponsor of the company’s employee network group.

Founded in 2009, LGBT & Allies is a group dedicated to supporting our LGBT community while influencing CBRE diversity and inclusion practices. Since launching the group, LGBT & Allies has grown to 300 employees.

Ms. Ellzey will work with Chris Ludeman, Capital Markets Global President and Co-Executive Sponsor to LGBT & Allies. Together they will support the LGBT & Allies leadership team on all their aspirations for the group.

“Karen has an outstanding history as a leader within our company. She has a reputation for getting things done and at the same time has a passion for diversity and inclusion topics,” says Mr. Ludeman. “I am confident she’ll bring the same excellence to her expanded role with LGBT & Allies.”

With 17 years at CBRE and over 20 years of experience in the real estate industry, Ms. Ellzey is a recognized thought leader. For GWS, she oversees client strategy and consulting, business analytics, the CBRE Institute, the Building Innovation Lab, and marketing and communications, in addition to supporting numerous strategic initiatives. She and her team specialize in corporate real estate organization design and delivery models, process design and optimization, business analytics, and occupancy cost solutions for public and private-sector clients. Their work includes consulting engagements, workshops, and innovation activities focused on helping clients define strategic priorities, identify improved solutions and implement new delivery models and methods that result in superior outcomes.

“The LGBT & Allies leadership team has created a strong foundation over the years and I look forward to supporting their progress and positive impacts. This group and its members have the potential to influence many professional lives at CBRE,” says Ms. Ellzey.

Additional information about diversity and inclusion practices at CBRE can be found at https://www.cbre.us/about/careers/diversity.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

CBRE again the top global real estate advisory firm in the annual Euromoney Real Estate Awards

Los Angeles, 2017-Sep-20 — /EPR Retail News/ — CBRE has been named the top global real estate advisory firm in the annual Euromoney Real Estate Awards for the sixth consecutive year. Globally, CBRE was also ranked highest overall for Sales/Leasing and Valuation services.

In addition to the global awards, CBRE was named as the leading real estate advisory firm in Western Europe, North America, Asia, Latin America and Africa, and earned awards in 27 individual countries – up from 21 countries in 2016.

“We are honored by this ongoing recognition from our clients and industry peers,” said Bob Sulentic, president & chief executive officer, CBRE. ”It is the direct result of our talented professionals – supported by our strong operating platform – who are working together every day to create great outcomes for our clients.”

Euromoney, a leading international finance publication, annually surveys the opinions of real estate advisors, developers, investment managers, corporate end-users and banks worldwide to determine the best providers of real estate services. Industry professionals from more than 75 countries participated in this year’s survey.

For more information on the 2017 Euromoney Real Estate Awards, please go to www.euromoney.com.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

CBRE 2018 global Urban Photographer of the Year competition: “Cities of Connections: People, Places, Perspectives”

Cities of Connections’ is Theme for 11th Annual Urban Photography Competition

LOS ANGELES, CA, 2017-Sep-18 — /EPR Retail News/ — CBRE has launched its 2018 global Urban Photographer of the Year competition with the theme, “Cities of Connections: People, Places, Perspectives.” Now in its 11th year, the competition continues to grow, with last year’s contest attracting more than 29,000 entries from 111 countries around the world.

This year’s theme invites photographers to submit photos that capture moments of connectivity across the daily cycle of city life.

The competition is free to enter and open to both professional and amateur photographers. A unique element to the competition allows each entrant to submit up to 24 images; one to represent each hour of the day. The overall global winner will be awarded a special photography trip to a destination of their choice for themselves and a friend. Other prizes include GoPro packages, photography drones and more. CBRE is accepting entries until November 30, 2017 and the winners will be announced in March 2018.

Martin Samworth, Chief Executive Officer, Europe, Middle East, and Africa (EMEA), CBRE and the competition’s executive sponsor said, “Every year, the competition gives us unique insights into our ever-changing urban environments. We are pleased to once again celebrate the spirit of city life and human interaction around the world through this year’s theme.”

Paul Suchman, CBRE’s Global Chief Marketing Officer, says, “We are a company deeply connected with the urban environment, and the Urban Photographer of the Year competition allows us to demonstrate our knowledge and passion for city life. As evidenced by the record number of entries we received last year, this unique competition continues to capture the interest and imagination of photographers around the world.”

Moin Ahmed, from Bangladesh, was named as the overall 2017 competition winner with his image, “The Man’s Stare” – a compelling image that captures the entrancing visage of a train rider during a rainy day in Dhaka, Bangladesh.

Plan International, CBRE’s EMEA charity partner, will be involved in the competition for the fourth year. The competition’s youth categories will be judged by Plan International’s Youth Advisory Panel and Anne-Birgitte Albrectsen, Plan International CEO, will also join the expert panel of judges to determine the overall winner. CBRE will make a donation to Plan International for the first 10,000 entries received in this year’s competition, supporting the global NGO’s work in advancing children’s rights and equality for girls.

About the CBRE Urban Photographer of the Year competition

Website: www.cbreupoty.com

Facebook: CBRE Urban Photographer of the Year

Twitter: @UPOTY

Key terms – for full Terms and Conditions, please visit the website

Maximum entries: Each entrant may submit one Photo that represents one hour of the day, up to a total of twenty-four (24) photos (each representing a different hour of the day) per person for the entire Contest Period.

Copyright/Usage: By submitting a Photo, entrant grants Sponsor and its agents, affiliates and subsidiaries a perpetual, unlimited worldwide royalty free license (including the right to sub license), for the maximum legal term of the Photo’s copyright protection, with full title guarantee and right to post, publish, and otherwise make use of, entrant’s first name, last initial, address (city/state/country), likeness or picture, biographical information, Photo description(s) and any Photo submitted in publication and/or on the internet, for advertising and/ or promotional use in any media in connection with and/or related to the Contest or a similar competition run by the Sponsor or any of its group companies without notice or compensation of any kind.   For this purpose, the entrant undertakes to conclude and sign (and/ or for entrants under the age of 18, to procure that his/ her parent or legal guardian conclude and sign) all the agreements and documents considered to be necessary in order for the license to be valid and effective

Entrant agrees that all applicable taxes, fees and other levies on any prize are solely the winner’s responsibility.

Copyright in all Photos remains the property of the entrant at all times; however, in addition to the above licence, entrants agree to the maximum extent permitted by law, to waive all or not to assert any of their moral rights in the photos (or equivalent rights anywhere in the world) as against the Sponsor and its agents, affiliates and subsidiaries in particular but without limitation the right to be referenced as the photographer or owner of the image or to modify in any way the submitted Photos to the extent permitted by law.

Charitable donation: CBRE has also pledged a donation to Plan International for the first 10,000 entries received in this year’s competition. The funds will support our EMEA charity program ‘Safer Cities’ which aims to raise €550,000 to support 4,000 young people in Embakasi and benefit the wider community of nearly half a million people.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

SOURCE: CBRE Group, Inc.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

CBRE: Asian outbound investment into global real estate continues; posting significant YoY gains in H1 2017

  • Asian Investors Continue to Favor Big Ticket Deals and Diverse Geographic Mix When Deploying Capital into Global Real Estate
  • London, New York, Hong Kong the Leading Global Destinations for Asian Investors

Los Angeles, 2017-Aug-30 — /EPR Retail News/ — Global real estate continues to serve as an attractive asset class for investors, with Asian outbound investment into the sector posting significant year-on-year gains in the first half of 2017, according to the latest research from CBRE.

Approximately US$45.2 billion of Asian outbound capital was directly invested into global property in the first half of 2017, representing a 98.4% rise year-on-year against US$22.8 billion allocated in the first half of 2016.

Strength in Asian outbound investment was led largely by the preference of investors for big ticket deals in the global real estate sector. In the first half of 2017, 74% of committed investments were deployed into transitions valued at US$250 million and over, versus 56% in the corresponding period in 2016.

Geography-wise, Asian investors remain bullish on Europe, Middle East and Africa (EMEA) and the Americas, which drew US$21.9 billion—driven largely by a single US$13.2 billion from the logistics portfolio purchase—and US$11.3 billion in capital, respectively. The top five global destinations for Asian investment in H1 2017 were London (10%), New York (8%), Hong Kong (5%), Shanghai (4%) and Singapore (4%).

Intra-Asia investments continue to grow, finishing the first half at US$10.4 billion and representing a 23% growth in total capital. Pacific markets were less attractive to Asian Investors, dropping 25% year-on-year to US$1.6 billion.

“The appetite of Asian investors for high quality cross-border real estate assets remains solid and sustainable for the foreseeable future. The type of transactions and the geographic and sectoral diversity is where we see the most significant change in 2017, said Tom Moffat, Executive Director, Capital Markets, CBRE Asia.

In the first half of 2017, institutional investors from Asia continued to act as more influential players in the international real estate sector, supported by several marquee transactions in EMEA and the Americas. CBRE estimates that approximately 64% of all EMEA capital deployments and 35% of Americas capital deployments originating from Asia were committed by institutional investors.

Sectoral diversity also continues to be a major theme within asset strategies, with Asian outbound investors rebalancing real estate portfolios internationally. Office and logistics represent the most attractive commercial real estate sectors for Asian investors, accounting for 44% and 34% of all committed capital throughout H1 2017, respectively. Residential (7%), hotels (7%), retail (6%) and alternative sectors like aged-care housing (2%) remained niche investments globally.

Outbound investment from China remains the region’s largest despite heightened regulation, with a new group of investors more active over the first half. Chinese sovereign wealth funds (SWFs) emerged as the largest single outbound investor class in the first half of 2017, driving total capital deployment to US$25.6 billion versus US$10.1 billion year-on-year. China-based property companies and conglomerates have also been considerable buyers of offshore real estate assets in the first six months of 2017.

A new round of capital controls was issued by the State Council and the National Development and Reform Commission (NDRC) on August 18, with a focus on offshore real estate investments. According to CBRE, this regulatory move may not affect the medium to longer term appetite for outbound investment, but potentially re-shape investment strategies going forward.

“Our data shows that China remained the largest source of cross-border commercial real estate investment capital (both new and capital already circulating offshore) from Asia in H1 2017. New regulations should help to ensure that future outbound investment is more financially sound and strategically focused, but the impact of Chinese capital on key global real estate markets should continue for some time,” said Robert Fong, Director of Research, CBRE Asia Pacific.

Additional key findings include:

– Non-China investors more active: Outbound investors from Singapore (US$6.8 billion), Hong Kong (US$6.6 billion) and South Korea (US$2.9 billion) remain active outbound investors and continue to deploy capital as Chinese investors rebalance portfolios.

– Number of portfolio deals rising: Asian outbound investors are now more likely to deploy capital via portfolio transactions. In the first half of 2017, 26 portfolio deals were committed versus 13 in the first half of 2016.

– Destinations becoming more diverse: Asian outbound investors are now looking beyond gateway cities when deploying capital into real estate. In the first half of 2017, the top five urban destinations comprised of 31% of all total Asian outbound capital compared to 54% in the first half of 2016.

– China outbound diversity: Chinese capital continues to be deployed differently relative to the region. In the first half of 2017, the primary destinations of outbound investment were office (Americas), logistics (EMEA) residential (Japan) and hotels (Australia), representing the pull of diverse and quality real estate assets globally.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

CBRE to use Kahua to manage its wide range of projects across its global client base

Kahua’s cloud-based collaborative platform will boost efficiency and drive superior client outcomes across CBRE’s global project management offering

Los Angeles, 2017-Aug-17 — /EPR Retail News/ — CBRE Group, Inc. and Kahua announced today (August 16, 2017) that the companies have entered into a global, strategic agreement whereby CBRE will use Kahua to manage a wide range of projects across its global client base.

“Kahua is a modern, intuitive, cloud-based solution that dramatically changes how projects are executed and managed, and holds the potential to unlock significant efficiencies, data and insights,” said Sandeep Davé, Chief Digital and Technology Officer for CBRE’s Global Workplace Solutions business. “After careful review and testing, we determined that Kahua provides the premier global collaborative network for real estate and construction project management and plan to implement it internally and with our global customers. This relationship is another example of how CBRE, as the market leader, is bringing to bear transformative technology solutions to the corporate real estate industry.”

The Kahua Network, delivered as an Application Platform as a Service, connects CBRE with its global clients and their project teams, allowing applications, business processes and information to be shared across organizations to more effectively manage capital assets.

CBRE has made an equity investment in Kahua and will have an executive join Kahua’s Board of Directors. Through this long-term agreement, CBRE and Kahua will continue to jointly develop application technology that will address the unique needs of real estate occupiers, owners, contractors, architects and engineers operating within the project management supply chain. CBRE and Kahua are confident that leveraging the solution across the lifecycle of capital assets under CBRE management will significantly improve productivity throughout the supply chain.

The agreement brings a new form of collaboration across the entire lifecycle of capital assets and will change the way capital assets are delivered and managed. CBRE has already launched projects in The Kahua Network with clients in markets across the Americas, EMEA and APAC regions and is rapidly training over 5,000 project managers worldwide on the platform.

“CBRE is an innovative leader in our industry. We are excited to extend the Kahua Network to CBRE and their global customers,” said Scott Unger, CEO of Kahua. “Our strategic relationship with CBRE will further our mission to deliver value and productivity improvements to the real estate, design and construction industry.”

About Kahua
Kahua is changing the way that capital assets are delivered and managed. The Kahua Network is the world’s leading collaborative network for real estate and construction project management. Delivered as a secure, scalable Application Platform-as-a-Service (aPaaS), The Kahua Network enables users to easily share data, documents and workflows across all applications and projects, and among all authorized network participants. Kahua supports leading mobile devices and tablets, integrates with third party applications and numerous accounting systems, and enables customers and certified development partners to quickly modify existing applications or build custom applications that operate on The Kahua Network. To learn more, visit www.kahua.com.

Forward-Looking Statements
Certain of the statements in this release regarding CBRE’s use of, and investment in the Kahua technology that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995.  Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, our ability to successfully integrate the Kahua technology into CBRE’s global Project Management operations as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2016, and our Form 10-Q for the quarter ended June 30, 2017. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at investorrelations@cbre.com.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

CBRE: “urban-suburban” submarkets are well positioned to capture strong demand from office users

Los Angeles, 2017-Aug-10 — /EPR Retail News/ — Suburban office markets that provide an urban-like live-work-play environment are well positioned to capture strong demand from office users, according to a new report from CBRE.

Among the most common attributes of so-called “urban-suburban” submarkets are the presence of abundant retail, office and housing options, as well as employment opportunities, based on a survey of CBRE Research professionals in the 25 largest suburban markets.

Established urban-suburban submarkets have the added advantage of amenities like entertainment and recreational offerings, restaurants and grocery stores and public transportation access. Established submarkets include the New Jersey Waterfront, Santa Monica and Palo Alto.

Emerging submarkets, such as the Los Angeles submarket Glendale or the Central Perimeter in Atlanta, are more likely to be in transition, with development, construction or renovation – including ongoing or planned public transit projects – shaping dynamics. Notably, emerging submarkets are more likely than established submarkets to have mixed-use projects in the works. Mixed-use projects often serve as a catalyst for additional development in a particular area, spurring interest in the surrounding neighborhood. Emerging submarkets are also more likely to utilize government incentives, zoning changes or other public commitments to assist development than established submarkets.

“Steep rental rates and an increasingly limited supply of quality office space, especially in large blocks, in downtown submarkets will continue to lead more tenants to look for space in suburban markets,” said Scott Marshall, executive managing director, Advisory & Transaction Services|Investor Leasing, CBRE. “Moreover, as more millennials age and begin families, many will eventually move to the suburbs. Office locations that can provide the urban characteristics this pool of workers has grown accustomed to will be in the highest demand.”

The vacancy rate for emerging urban-suburban submarkets was 15.3 percent as of Q1 2017, compared with 13.8 percent for the established urban-suburban submarkets. Similarly, rents in emerging urban-suburban submarkets have yet to surpass the overall suburban average ($27.79 per sq. ft.) but were essentially equal at $27.46 per sq. ft. and significantly below rents in established urban-suburban submarkets ($31.90).

The amount of new office construction underway in urban-suburban submarkets is slightly elevated relative to their share of inventory. Emerging submarkets account for 22 percent of total square footage under construction in the top 25 suburban markets (compared to their 20 percent share of total inventory) and established submarkets account for 30 percent (compared to 26 percent of total inventory). Yet in certain metros, these shares are much higher, with urban-suburban submarkets accounting for 100 percent of the suburban office space under construction in Sacramento, Minneapolis/St. Paul, Kansas City and Austin.

“Established urban-suburban submarkets offer investors and occupiers a relatively low-risk alternative to downtown office space, as fundamentals in these submarkets already outperform the suburbs overall and in many metros, rival the CBD,” said Andrea Cross, Americas head of office research, CBRE. “Alternatively, emerging urban-suburban markets offer those with longer-term strategies an opportunity to secure space in up-and-coming areas while there are still options to choose from and purchase prices and rents are more affordable.”

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

CBRE releases 2016 Corporate Responsibility Report

Los Angeles, 2017-Aug-08 — /EPR Retail News/ — CBRE, the world’s largest commercial real estate services and investment firm, has released its tenth annual Corporate Responsibility Report. The 2016 report – themed “Building Connections” – highlights CBRE’s many accomplishments as a leader in responsible business practices within the commercial real estate industry.

CBRE has been consistently recognized for its corporate responsibility practices and performance:

• CBRE remained a constituent of the FTSE4Good Index following the June 2017 index review, and has been a part of FTSE4Good since 2014.

• CBRE has been included in the Dow Jones Sustainability Index (DJSI) North America since 2014, reflecting the strength of its performance regarding environmental, social and governance issues.

• In early 2017, CBRE was named a World’s Most Ethical Company by The Ethisphere Institute for the fourth consecutive year and received an EPA ENERGY STAR® Partner of The Year — Sustained Excellence Award, the tenth consecutive year of EPA recognition.

Other CBRE achievements for 2016 and early 2017 highlighted in the report include:

• CBRE created its first global greenhouse gas emissions reduction goal. The company aims to reduce Scope 2 emissions 30 percent by 2025 and 50 percent by 2035 compared to a 2015 baseline.

• In 2016, CBRE registered and benchmarked 1,975 buildings totaling more than 314 million square feet to EPA ENERGY STAR. CBRE’s 288 ENERGY STAR labeled buildings under management represent nearly 3.5 percent of the total U.S. office buildings labeled in ENERGY STAR.

• In the United Kingdom, CBRE received a total of 32 Royal Society for the Prevention of Accidents (RoSPA) Health & Safety Awards in 2016.

• CBRE global corporate and employee donations totaled nearly $13 million in 2016, supporting a range of nonprofit organizations.

“We recognize the role we play in the communities in which we work and are striving to develop thoughtful business solutions to address issues such as resource management, environmental impact, community improvement and workplace health and safety,” said Bob Sulentic, CBRE’s president and chief executive officer. “We are proud of our people’s commitment to acting responsibly and with integrity while producing great outcomes for our clients.”

“Building Connections” was produced in accordance with the Global Reporting Initiative (GRI) Standards at the Core level and includes the company’s progress toward implementing the Ten Principles of the United Nations Global Compact.

More information on corporate responsibility at CBRE can be found at www.cbre.com/responsibility.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

David Egan appointed Global Head of Industrial & Logistics Research of CBRE

Los Angeles, 2017-Jul-31 — /EPR Retail News/ — CBRE announced today (July 28, 2017) that David Egan, a 20-year veteran of real-estate analysis and research, has been appointed Global Head of Industrial & Logistics Research. He also will continue his work overseeing CBRE’s research on the industry in the Americas.

Mr. Egan joined CBRE in 2013 and was named Americas Head of Industrial & Logistics Research in 2014. With the new appointment, he adds responsibility for guiding CBRE’s global research on the sector, including reports on topics such as e-commerce fulfillment, automation, development trends and supply chain strategies, as well as advising multinational clients.

Mr. Egan encourages collaboration among CBRE researchers in various global regions as well as across specialties, including projects to analyze the intersection of the Retail and Industrial & Logistics sectors.

“Market research is one of CBRE’s vital tools for helping clients to understand the constantly changing warehouse-and-distribution sector,” said Adam Mullen, CBRE Senior Managing Director and Americas Leader of Industrial & Logistics. “The insightful, global research directed by David helps our more than 1,000 Industrial & Logistics professionals across the globe keep their clients informed of industrial real estate’s pivotal role in their business.”

Mr. Egan joined CBRE as Director of Research & Analysis in Chicago. Prior to joining CBRE, he worked in various executive, advisory and brokerage roles for Ernst & Young, Colliers International and Duke Realty.

“Globalization is a key driver of the Industrial & Logistics and Retail ecosystems, so it is essential for CBRE to continually analyze and research the business trends and market implications,” said Amaury Gariel, CBRE Managing Director of Industrial & Logistics in Europe, the Middle East and Africa. “David, with his skills and proven experience, is best equipped to direct research that supports our clients and our professionals around the world.”

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

CBRE: availability rate for warehouses and distribution centers in the U.S. declined slightly in second quarter

Decline in Available Space Comes Amid Strong Demand, Temporary Slowdown of Construction Deliveries

Los Angeles, 2017-Jul-15 — /EPR Retail News/ — The average availability rate for warehouses and distribution centers in the U.S. declined slightly in the second quarter, aided by the healthy economy and fewer than expected construction completions, according to a new report from CBRE.

U.S. industrial availability declined by 10 basis points (bps) in the second quarter to 7.8 percent, its lowest level since the first quarter of 2001. The decline was the market’s 27th in the past 28 quarters.

The slight tightening of the market in the second quarter can be attributed to strong demand and a temporary slowdown in new supply.  The U.S. industrial market has benefited from general strength in the economy, notably gains in job growth, port traffic, increased e-commerce activity and key manufacturing indices.

Additionally, developers completed less industrial space in the second quarter (40.2 million sq. ft.) than was expected (46.5 million sq. ft.), according to CBRE.

“This bounceback in demand from a sluggish first quarter isn’t surprising, given the solid economic growth that we’ve seen this year,” said Jeff Havsy, CBRE Chief Economist in the Americas. “New construction deliveries are expected to pick up in the second half of the year since the pipeline of new projects is active.”

CBRE defines availability as the full amount of space available for lease, including vacant space and currently occupied space being marketed for occupation by other users.

In the second quarter, 42 of the U.S. markets that CBRE tracks registered declines in their industrial availability rates. Fourteen registered increases. Six were unchanged.

Markets posting the largest declines in availability in the second quarter from a year earlier include Wilmington, Del., (down 370 bps); Dayton, Ohio, (down 320 bps); Jacksonville (down 230 bps), Cincinnati (down 220 bps); Sacramento (down 210 bps); and Boston (down 200 bps).

Markets posting higher availability rates from a year ago include Austin (up 280 bps); Kansas City (up 130 bps); Fort Worth (up 120 bps); San Jose (up 100 bps); and Houston (up 90 bps).

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

CBRE: Vacant office space in the U.S. remained unchanged during the Q2 2017 at 13 percent

Los Angeles, 2017-Jul-12 — /EPR Retail News/ — Vacant office space in the U.S. remained unchanged during the second quarter of 2017 (Q2 2017) at 13 percent. The steady performance was attributable to a balance of supply and demand, according to the latest analysis from CBRE.

The vacancy rate in suburban markets increased by 10 bps, to 14.3 percent, while downtown vacancy remained steady at 10.7 percent. Vacancy continued to fall in an about half of the U.S. office markets, and the national office vacancy rate remains near its post-recession low.

”The office market remained in equilibrium during the second quarter with supply and demand roughly in balance,” said Jeffrey Havsy, Americas’ chief economist for CBRE. “Absorption was in the 7 million sq. ft. range for three out of the last four quarters while supply growth has been between 10.5 million and 11.8 million sq. ft. the past four quarters. This steadiness has kept the overall vacancy rate near 13 percent over the past year.”

The largest quarterly declines in vacancy were in Columbus (170 bps), Las Vegas (160 bps) and Albuquerque (130 bps). Louisville, Jacksonville, Norfolk, Honolulu, Orlando, Cincinnati and Atlanta each declined by 60 bps or more. Over the past four quarters, market conditions have tightened notably in mid-sized markets—including Tucson, Orlando, Las Vegas, Richmond, Sacramento, Albuquerque, Kansas City, Raleigh, West Palm Beach, Detroit and St. Louis.

“The market is in a very sustainable place with neither supply nor demand overheated, which bodes well for the health of the market over the next few quarters,” added Mr. Havsy.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

CBRE-managed properties win International TOBY Awards at the 2017 BOMA International Conference & Expo

Los Angeles, 2017-Jul-11 — /EPR Retail News/ — CBRE announced that two buildings managed by the company—HESS Tower in Houston, Texas, and 6525 The Corners in Peachtree Corners, Georgia—were recipients of the International TOBY (The Outstanding Building of the Year®) Award at the 2017 Building Owners and Managers Association (BOMA) International Conference & Expo in Nashville, Tenn.

HESS Tower won in the “Corporate Facility” category. The property is managed by CBRE and owned by H&R REIT. HESS Tower also is a BOMA 360 Performance Program® building. 6525 The Corners won in the “Under 100,000 Square Feet” category. The property is managed by CBRE and owned by Glenfield Capital.

“We are honored to accept multiple TOBY® Awards on behalf of our clients this year,” said Mary Jo Eaton, CBRE’s Global President for Asset Services. “These awards validate our partnership with our clients and our ability to provide them with world class operational excellence in the management of their assets.”

The TOBY Awards are the commercial real estate industry’s highest recognition honoring excellence in commercial building management and operations in specific categories of building size or type. To win an International TOBY Award, a property first must win both local and regional competitions. Judging is based on community impact, tenant and employee relations programs, energy management systems, accessibility, emergency evacuation procedures, building personnel training programs and overall quality indicators. A team of expert industry professionals also conducted comprehensive building inspections.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

Chicago claimed the top spot on Green Building Adoption Index study by CBRE and Maastricht University

Green Building Adoption Index Shows More “Green” in Cities with Benchmarking Laws

Los Angeles, 2017-Jul-08 — /EPR Retail News/ — After placing second last year, the Chicago market claimed the top spot with 66 percent of its space qualified as green certified according to the fourth annual Green Building Adoption Index study by CBRE and Maastricht University. San Francisco slipped to second, while Atlanta, Houston and Minneapolis again claimed spots in the top five in the 2017 report. “Green” office buildings in the U.S. are defined as those that hold either an EPA ENERGY STAR label, USGBC LEED certification or both.

The study found that institutional owners of office buildings continued to pursue green building certifications in the 30 largest U.S. markets. 10.3 percent of all buildings surveyed are Energy Star labeled, while 4.7 percent are LEED certified, both slightly ahead of last year’s totals, although the total percentage of certified space fell slightly due to expiration of some certifications.

This year’s study also examined the potential impact of municipal energy disclosure regulations on green building adoption rates. Nine of the top 10 cities have implemented benchmarking ordinances, and several of those have experienced measurable increases in green certifications. Cities with benchmarking ordinances have 9 percent more Energy Star and LEED certified buildings, and 21 percent higher Energy Star and LEED certified square footage.

“While it is still too early to make a definitive correlation between benchmarking ordinances and the rate of growth in ‘green’ buildings, this year’s findings do begin to establish a link that will be studied closely in the future,” said David Pogue, CBRE’s Global Director of Corporate Responsibility.

“Even though the current federal legislative agenda has shifted the focus away from energy efficiency and sustainability, the momentum in the commercial real estate industry toward improving building operating performance and enhancing building quality is hard to derail,” said Dr. Nils Kok, associate professor at Maastricht University.

A feature again this year is a geographic mapping platform that highlights the name, location and details of the specific green certification for each building in all 30 markets.

Again executed in close collaboration with the U.S. Green Building Council (USGBC) and CBRE Research, this year the report also included research and commentary from the Institute for Market Transformation. This is the fourth release of the annual Green Building Adoption Index. Based on a rigorous methodology, the Index shows the growth of ENERGY STAR- and LEED-certified space for the 30 largest U.S. office markets, both in aggregate and in individual markets, over the previous 10 years. View the study’s findings HERE.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.

CBRE and PwC survey: 23% of companies have not yet started to implement the new lease accounting standards

Those who have begun implementation report greater-than-expected effort

Los Angeles, 2017-Jun-29 — /EPR Retail News/ — Twenty-three percent of companies have not yet started to implement the new lease accounting standards, nearly 18 months after they were promulgated by the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB), according to a new survey from CBRE and PwC US.

Of those who say adoption is “in progress,” 52 percent say they are only 0 to 25 percent complete. The new lease accounting standards go into effect in 2019 for public companies.

“The survey results confirm that many public companies, for various reasons, including concentrating on implementing the new revenue recognition standard in 2018, have not been focused on the new lease accounting standards. These companies are now beginning to realize they are only six quarters away from the effective date and that it is time to pick up their pace,” said Jeff Beatty, Senior Managing Director of CBRE’s Financial Consulting Group and leader of the company’s Global Lease Accounting Task Force.

The survey results do indicate greater focus in this area, with 66 percent having formed an internal working group to address the adoption of the new standards. This is an important first step for any company as the complexity and nuances of the new standards will require greater collaboration and sharing of information between business units than they are accustomed to.

Of the companies who have started implementing the new standards, 47 percent report expending a greater-than-expected effort.

“Given the breadth and potential systems and process changes associated with implementing the new standards, companies should consider a phased approach that begins with a current-state assessment focused on lease inventory, processes and data and system capabilities,” said Sheri Wyatt, Partner within PwC’s Capital Markets & Accounting Advisory Services practice. “Some companies may be underestimating the time and effort required, but a comprehensive assessment will ultimately provide better clarity around the length and complexity of adopting these new standards.”

The survey found that data collection and systems are among the biggest challenges facing most companies, with 75 percent of respondents indicating these implementation issues are “somewhat or very difficult.”

“Many companies will find that they will likely need to consider the integration of third-party lease administration software into their process given the complexity and additional data required to comply with the new standards,” said Peter Kitchin, Director of Portfolio Services for the Americas, CBRE.

For the full survey results, key findings and methodology, click here.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

SOURCE: CBRE Group, Inc.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

CBRE recognized with Realcomm’s Digie award for its smart building solutions innovations

CBRE Recognized for “Best Use of Automation” for Second Consecutive Year

Los Angeles, 2017-Jun-29 — /EPR Retail News/ — CBRE has earned Realcomm’s Digie award for its smart building solutions innovations.  This marks the second consecutive year that CBRE has been recognized by Realcomm, a worldwide research and event company focused on real estate technology, for the company’s use of automation and technology.

CBRE’s smart building solutions business, CBRE|ESI, was recognized for several achievements, including:

  • First service-provider to deploy a Smart Building Client Experience Center
  • Designing and building one of the first of the LEED Triple Platinum buildings in the U.S. as its headquarters
  • Ongoing pursuit of leading-edge smart building strategies and industry leadership going far beyond “normal” industry best practices

CBRE|ESI, led by Paul Oswald, is an integral part of CBRE’s Global Workplace Solutions (GWS) business.

“CBRE|ESI’s automation and smart building solutions create tremendous value for both individual facilities and portfolios,” said Matt Werner, President, Enterprise Facilities Management for CBRE’s GWS business.  “As master system integrators, our passion is making client facilities as efficient as possible while enhancing the workplace experience. We are thrilled that the experts at Realcomm once again recognized the hard work and pioneering innovation of our colleagues at CBRE|ESI.”

Realcomm’s “Digie” awards recognize companies, real estate projects, technologies and people that go above and beyond to positively impact the real estate industry using technology, automation and innovation.

In 2016, CBRE earned Realcomm’s Digie award for its CORE Asset Services operating platform, which allows property management professionals to assess and track key performance indicators and operational data to help clients make timely and strategic decisions.

For more information about CBRE|ESI, please visit: www.cbre.com/smarterbuildings.

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com

SOURCE: CBRE Group, Inc.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

CBRE: Hong Kong (Central) and London’s West End remained the two most expensive office locations in the world

Los Angeles, 2017-Jun-20 — /EPR Retail News/ — Hong Kong (Central) and London’s West End topped the list of prime office occupancy costs again, according to CBRE Research’s latest annual Global Prime Office Occupancy Costs report.

Hong Kong (Central) and London’s West End remained the two most expensive office locations in the world. Hong Kong’s (Central) overall prime occupancy costs of US$303 per sq. ft. per year topped the “most expensive” list, followed by London’s West End (US$214 per sq. ft.), New York (Midtown) (US$203 per sq. ft.), Hong Kong (West Kowloon) (US$190 per sq. ft.) and Beijing (Central Business District (CBD)) (US$183 per sq. ft.).

“The global top-10 list reflects the ongoing strength of global gateway cities in attracting and maintaining a successful occupier base,” said Richard Barkham, global chief economist, CBRE.

Global prime office occupancy costs—which reflect rent, plus local taxes and service charges for the highest-quality, “prime” office properties—rose 1.9 percent year-over-year, with the Americas up 3.6 percent, EMEA up 0.8 percent and Asia Pacific up 1.2 percent.

Durban (South Africa) had the highest increase in occupancy cost overall, though Stockholm (Sweden) registered some of the fastest growth in Europe, along with Palma de Mallorca (Spain), Belfast (U.K.) and Amsterdam (Netherlands). In Asia Pacific, Shanghai (Puxi) in China had the highest growth in occupancy cost, followed by Guangzhou, Bangalore and Shanghai (Pudong). Buenos Aires showed the biggest increase in the Americas overall, while suburban Denver, suburban Houston and New York Midtown South saw the largest occupancy-cost increases in the U.S.

CBRE tracks occupancy costs for prime office space in 121 markets around the globe. Of the top 50 “most expensive” markets, 21 were in Asia Pacific, 16 were in EMEA and 13 were in the Americas.

Europe Middle East & Africa (EMEA)

In EMEA, Durban (South Africa) had the highest increase in occupancy cost overall, though Stockholm (Sweden) registered some of the fastest growth in Europe. Palma de Mallorca (Spain), Belfast (U.K.) and Amsterdam (Netherlands) also showed double-digit growth, with Lyon (France) and Berlin (Germany) not far behind.

In London’s West End, the fall in occupancy costs is largely due to a fall in rents triggered by more subdued demand, particularly amongst financial occupiers who have become less willing to pay the high rents prevailing in London’s premier market.

Occupier efforts to reduce occupancy costs due to the ongoing strength of the Swiss franc relative to the euro have resulted in falls in Swiss markets, including Geneva and Zurich.

London (City) was pushed out of the top-10 most expensive markets to 11th place, despite prime office costs rising by 2.9%.

Asia Pacific

In Asia Pacific, Shanghai (Puxi) in China had the highest growth in occupancy cost, followed by Guangzhou, Bangalore and Shanghai (Pudong).

In Singapore, occupancy costs continued to fall, thanks to increased supply of office stock and weak levels of inflation.

Asia Pacific was home to seven of the top 10 most expensive markets—Hong Kong (Central), Hong Kong (West Kowloon), Beijing (CBD), Beijing (Finance Street), Tokyo (Marunouchi/Otemachi), New Delhi (Connaught Place – CBD), and Shanghai (Pudong).

Hong Kong (Central) is the only market in the world with a prime occupancy cost exceeding US$300 per sq. ft.

The most expensive market in the global ranking from the Pacific Region was Sydney (US$97 per sq. ft.), in 19th place.

Americas

In the Americas, suburban Denver, suburban Houston and New York Midtown South saw the largest occupancy-cost increases in the U.S., but Buenos Aires showed the biggest increase in the Americas overall.

New York Midtown, number three on the global list, remained the most expensive market in the Americas, with a prime office occupancy cost of US$203 per sq. ft. New York Midtown South took the eighth spot on the list with a prime office occupancy cost of US$156 per sq. ft.

Sao Paulo was the most expensive market in Latin America, posting an office occupancy cost of US$69 per sq. ft. and ranking as the 35th most expensive market globally.

Top 10
Most Expensive Markets

(In US$ per sq. ft. per annum)

Rank Market Occupancy Cost
1 Hong Kong (Central), Hong Kong 302.51
2 London (West End), United Kingdom 213.85
3 New York (Midtown Manhattan), U.S. 202.79
4 Hong Kong (West Kowloon), Hong Kong 190.02
5 Beijing (CBD), China 183.10
6 Beijing (Finance Street), China 170.29
7 Tokyo (Marunouchi/Otemachi), Japan 161.76
8 New York (Midtown-South Manhattan), U.S. 156.19
9 New Delhi (Connaught Place – CBD), India 153.89
10 Shanghai (Pudong), China 133.82

Largest Annual Changes
Occupancy Costs

(In local currency and measure)

Top 5 Increases

Rank Market % Change
1 Durban, South Africa 21.2
2 Buenos Aires, Argentina 20.0
3 Stockholm, Sweden 18.8
4 Denver (Suburban), U.S. 17.2
5 Palma de Mallorca, Spain 16.5

Top 5 Decreases

Rank Market % Change
1 Jakarta, Indonesia -19.6
2 Moscow, Russian Federation -18.0
3 Geneva, Switzerland -9.8
4 Hanoi, Vietnam -7.4
5 Calgary (Downtown), Canada -6.7

Note: The full Top 50 Most Expensive Markets chart is located at the end of this press release.

Notes

  1. The Global Prime Office Occupancy Costs report is a survey of office occupancy costs for prime office space in 121 cities worldwide.
  2. The latest survey provides data on office rents and occupancy costs as of March 31, 2017.
  3. The Largest Annual Changes rankings are based upon occupancy costs in local currency and measure. The Most Expensive ranking is based upon occupancy costs in US$ per sq. ft. per annum.
  4. The figures given in this release refer to occupancy cost. This represents rent, plus local taxes and service charges. The occupation cost figures have also been adjusted to reflect different measurement practices from market to market.
  5. Due to methodology changes, comparisons with figures in previously released reports are not valid.
  6. To obtain a full copy of the report or to arrange to speak with a CBRE expert, please contact Robert McGrath (robert.mcgrath@cbre.com).

Top 50 Most Expensive Office Markets

(In US$ per sq. ft. per annum)

Rank (Q1 2017) Market Occupancy Cost
1 Hong Kong (Central), Hong Kong 302.51
2 London (West End), United Kingdom 213.85
3 New York (Midtown Manhattan), U.S. 202.79
4 Hong Kong (West Kowloon), Hong Kong 190.02
5 Beijing (CBD), China 183.10
6 Beijing (Finance Street), China 170.29
7 Tokyo (Marunouchi/Otemachi), Japan 161.76
8 New York (Midtown-South Manhattan), U.S. 156.19
9 New Delhi (Connaught Place – CBD), India 153.89
10 Shanghai (Pudong), China 133.82
11 London (City), United Kingdom 130.17
12 Moscow, Russian Federation 118.70
13 Shanghai (Puxi), China 113.02
14 San Francisco (Downtown), U.S. 112.71
15 Dubai, United Arab Emirates 106.17
16 Boston (Downtown), U.S. 102.50
17 Seoul (CBD), South Korea 100.62
18 Paris, France 100.55
19 Sydney, Australia 97.17
20 Mumbai (Bandra Kurla Complex), India 96.91
21 San Francisco (Peninsula), U.S. 96.84
22 New York (Downtown Manhattan), U.S. 91.18
23 Washington, D.C. (Downtown), U.S. 90.15
24 Los Angeles (Suburban), U.S. 89.57
25 Seoul (Yeouido), South Korea 89.27
26 Shenzhen, China 86.65
27 Singapore, Singapore 85.02
28 Geneva, Switzerland 80.76
29 Dublin, Ireland 80.59
30 Stockholm, Sweden 80.34
31 Istanbul, Turkey 75.06
32 Zurich, Switzerland 73.33
33 Mumbai (Nariman Point – CBD), India 73.10
34 Guangzhou, China 69.57
35 São Paulo, Brazil 69.47
36 Taipei, Taiwan 67.92
37 Manchester, United Kingdom 64.72
38 Tel Aviv, Israel 63.70
39 Ho Chi Minh City, Vietnam 63.61
40 Houston (Downtown), U.S. 63.10
41 Birmingham, United Kingdom 62.53
42 Milan, Italy 61.70
43 Seattle (Downtown), U.S. 61.12
44 Edinburgh, United Kingdom 59.40
45 Helsinki, Finland 59.07
46 Seattle (Suburban), U.S. 58.35
47 Perth, Australia 57.60
48 Chicago (Downtown), U.S. 57.51
49 Brisbane, Australia 57.03
50 Jakarta, Indonesia 57.02

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 (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

MEDIA CONTACT:

Robert McGrath
212.984.8267
robert.mcgrath@cbre.com

SOURCE: CBRE Group, Inc.