Los Angeles – May 12, 2009 –CB Richard Ellis Inc. (CBRE) has been named the world’s fastest-growing retail property manager by Chain Store Age. The retail industry publication’s May issue reported that CBRE added 18.7 million sq. ft. of new global retail property management assignments in 2008, 35% more than the next-highest-ranked provider. Chain Store Age noted that the “pros are back in charge, helping to stabilize distressed assets and improve already-healthy ones,” as retail property owners turn to quality managers during a challenging market environment.
“Today's economic environment has created unprecedented challenges for retail property owners, and our performance in Chain Store Age's annual survey underscores the power of our platform and professionals to deliver for our clients, no matter the market conditions,” said Anthony Buono, Executive Managing Director of CBRE Retail Services.
CB Richard Ellis serves a vast of array of clients—including the nation’s leading retailers and retail property owners—with a full spectrum of services including property management, outsourcing, retail disposition, leasing, investment sales, debt or equity restructuring, valuation and consulting. In 2008, CBRE executed more than $23.5 billion in retail transactions worldwide for its clients.
Chain Store Age’s 20th annual survey of Fastest-Growing Managers measured domestic and international third-party management and leasing contracts obtained during the preceding calendar year.
About CB Richard Ellis
CB Richard Ellis 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 firm (in terms of 2008 revenue). The Company has more than 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis 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. CB Richard Ellis has been named a BusinessWeek 50 “best in class” company three years in a row and a Fortune 100 fastest growing company two years in a row. Please visit our Web site at www.cbre.com.