Los Angeles, January 19, 2010 – CB Richard Ellis Group, Inc (CBRE) today announced that General Electric (GE) has renewed its agreement with CBRE to provide real estate transaction management services for GE's global real estate portfolio. GE's portfolio comprises more than 300 million sq. ft. and 4,700 properties in over 100 countries. Under the new agreement CBRE will provide Strategic Transaction Management services, including leasing, property sales and other transaction services throughout GE's global operations.
"Efficient execution of our real estate strategy is a key element of GE's business success and CBRE's platform delivers the consistent, high quality expertise and service we require across all global regions," said Stephanie Fulbright, Global Director of Corporate Real Estate for GE.
GE's portfolio includes virtually every real estate asset type from office buildings to major industrial facilities, reflecting the wide scope of the company's business activities. CBRE is also assisting GE with regional strategic planning, project management and asset monetization advisory services.
"GE's commitment is a testament to their confidence in the capabilities of our professionals and our platform to meet their needs in all their global locations," said Bill Concannon, Vice Chairman of Global Corporate Services for CB Richard Ellis.
Craig Hendrickson, Senior Managing Director, CB Richard Ellis Global Corporate Services, serves as the Global Relationship Manager for the GE assignment working with CBRE professionals in the Americas, EMEA (Europe Middle East Africa) and the Asia-Pacific regions. CBRE maintains account team leadership in each region. GE has been a longstanding client of CB Richard Ellis.
About 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 approximately 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 for three years in a row. Please visit our Web site at www.cbre.com.