Company will occupy approx. 17,000 sq. ft. on 22nd floor of PNC Center under new 10-year lease agreement
Cincinnati, OH, May 9, 2016 – CBRE Group Inc. today announced plans to relocate its Cincinnati office to the 22nd floor of the PNC Center at 201 East Fifth Street. The commercial real estate services firm signed a 10-year lease to occupy 16,933 sq. ft.
The new space will be one of CBRE’s Workplace360 offices, the company’s leading-edge workplace strategy initiative designed to support the way employees work today, and in the future, through enhanced flexibility, mobility, technology and productivity.
Based in part on research that shows that employees spend 50 percent of their time working with others, CBRE’s Workplace360 initiative provides a flexible way of working and a system of places, technologies and behaviors that allow for choice based on an employee’s changing needs throughout the day. A free-address and paperless environment with no assigned workstations, Workplace360 offices feature a variety of work settings – a balance of both collaborative and private spaces – from which employees can self-select depending on the project at hand. Enhanced technology that supports this mobile way of working is a core element of every Workplace360 office.
“CBRE is committed to being the leader in emerging workplace strategies,” said John Latessa, Jr., Executive Managing Director for CBRE’s Midwest Division. “With state-of-the-art technology, and an increased emphasis on internal collaboration and flexibility, our new Workplace360 office will be an environment that will enable us to serve our clients better than ever before.”
“The design and functionality of our new space reflect input our Cincinnati employees provided throughout the process,” said Emily Neff, program manager for CBRE’s Workplace360 initiative. “The office will a have a combined café/gathering space that can be used for collaborative working as well as events, a mix of hardwood and concrete floors and visuals inspired by Cincinnati’s bridges, parks and waterways.”
CBRE’s in-house Workplace Strategy team is leading the implementation of the new space, and CBRE’s in-house Project Management team, which is overseeing the construction process. CBRE expects to move into its new office in August 2016.
CBRE is currently located on the 12th floor of the PNC Center, a 501,024-sq.-ft., 27-story building located in the heart of Cincinnati’s central business district. Amenities include an attached six-level parking garage that can accommodate more than 1,200 vehicles, a conference center, on-site security and is within walking distance to many restaurants, hotels and various services. The building is owned and managed by Hines, a privately owned international real estate firm with locations in 199 cities around the globe.
CBRE finalized the lease in April 2016. CBRE’s John Eckert represented CBRE in the transaction and the landlord, Hines, was represented internally.
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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.