Acquisition enhances CBRE’s retail real estate offering in the Midwest
Los Angeles, November 2, 2015 – CBRE Group, Inc. (NYSE:CBG) today announced that it has acquired Sitehawk Retail Real Estate, one of the leading retail real estate services firms in the Midwestern U.S.
Based in Indianapolis, Indiana, Sitehawk helps leading retailers, including Costco, Ross Dress For Less, Hobby Lobby, JCPenney, Gap, LA Fitness, Darden Restaurants and hundreds of other retailers, plan and execute their real estate strategies on a local and regional basis. It also provides leasing and management services for investors who own retail property—such as Kimco Realty, RPAI, VEREIT —and services a portfolio of approximately eight million sq. ft. Founded in 1982 as The Linder Company of Indiana and renamed as Sitehawk in 2007, the firm is led by principals Larry Davis, Steve Delaney, Scott Gray and Mark Perlstein, who will join CBRE in regional retail leadership roles.
“The addition of Sitehawk significantly enhances our offering for retail clients across the Midwest,” said John Merrill, managing director and market leader for the CBRE Indianapolis office. “Sitehawk professionals are highly regarded across the region and, like CBRE, are known for excellence in client service.”
“We are excited to be joining CBRE,” said Mr. Gray from Sitehawk. “Our team will benefit greatly from CBRE’s extensive resources and national and global footprint, which will enable us to service more of our clients’ needs – in more markets – than ever before.”
The acquisition of Sitehawk follows CBRE’s acquisitions of two other premier retail real estate service companies: Dallas-based United Commercial Realty (UCR) (January 2015) and Philadelphia-based Fameco (September 2013).
“We are highly committed to building the premier retail real estate services offering in major markets across the U.S.,” said Cal Frese, chief executive officer, Americas, for CBRE. “Sitehawk’s strong relationships and extensive market knowledge will greatly add to our expertise in the Midwest region and help us to build further advantage for our 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 (in terms of 2014 revenue). The Company has approximately 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
“Safe Harbor” Statement Under the U.S. Private Securities Litigation Reform Act of 1995
Certain of the statements in this release regarding the acquisition of Sitehawk 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. These forward-looking statements involve risks and uncertainties, including, but not limited to, CBRE’s ability to successfully integrate Sitehawk with its existing retail operations in the U.S., as well as other risks and uncertainties discussed in CBRE’s filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release and, except to the extent required by applicable securities laws, CBRE expressly disclaims any obligation to update or revise any of them to reflect actual results, any changes in expectations or any change in events. If CBRE does update one or more forward-looking statements, no inference should be drawn that it 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 risks to CBRE’s business in general, please refer to CBRE’s SEC filings, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2015 and June 30, 2015. Such filings are available publicly and may be obtained off CBRE's website at www.cbre.com or upon request from the CBRE Investor Relations Department at firstname.lastname@example.org.