Los Angeles – January 5, 2017 – CBRE Group Inc. announced today that Macy’s, Inc., has appointed CBRE to help with the national disposition of a portion of the stores that Macy’s has announced it will be closing.
“This partnership brings together two industry leaders, each with more than 100 years of history,” said Jack Durburg, CBRE Chief Executive Officer, the Americas. “We are honored to assist Macy’s, a storied retailer that helped create much of the American retail landscape, as it charts its course to a future of continued retail leadership.”
The Macy’s partnership comes as CBRE has enhanced its flagship Retail Advisory & Transaction Services business line to include robust practices in several specialized sectors, including malls, urban retail and dispositions.
“CBRE has dedicated the resources and expertise to expand its dispositions business at a time when many retailers are optimizing their store portfolios to focus on their best-positioned, most-profitable operations,” said Brandon Famous, CBRE Senior Managing Director and Retail Leader, the Americas. “Helping national retailers through this intricate process requires industry knowledge, location-analytics capabilities, capital-markets resources and relationships with investors and retailers on a scale that only CBRE can provide.”
Developers, retailers and other parties potentially interested in the properties can contact Neill Kelly, CBRE’s Senior Vice President and Practice Leader of Occupier Restructuring and Disposition Services, at +1 631 3706067 or email@example.com. They also can visit the project web site: www.cbre.com/macys .
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.