CBRE Acquires Commercial Land Surveying Service Provider
May 4, 2023
CBRE today announced it has acquired Millman National Land Services, a leading provider of commercial land surveying services across the United States.
Millman, headquartered in Canton, OH, provides full-scale land services nationally, including American Land Title Association (ALTA)/National Society of Professional Surveyors (NSPS) surveys, telecommunications/cell tower surveys, zoning reports and real estate compliance solutions.
The acquisition of Millman provides CBRE with the opportunity to provide ALTA/NSPS survey capabilities to clients directly—the top standard for all land surveys—as part of its Assessment and Consulting Services (ACS) team within Valuation and Advisory Services (VAS).
“Millman has state-of-the-art technology and an innovative business model that delivers services efficiently, consistently and accurately. Their people will enhance our national team of engineers, architects and environmental scientists that provide expert assessments to help our clients make informed investment decisions,” said Tom Edwards, Global President of VAS for CBRE.
Millman’s 75 employees, including those located in the firm’s Querétaro, Mexico office, will fully integrate with CBRE’s ACS team. Vincent Macauda, President and General Counsel, will continue to run the incoming team’s operations as a Managing Director for CBRE.
“We are excited for what our joining with CBRE brings to our clients, which will enable them to have access to comprehensive transactional real estate due diligence services in a true one-stop shop approach,” said Mr. Macauda.
Carleton McKenna & Co. served as exclusive sell-side representative, Baker & Hostetler LLP acted as legal counsel and Martinet Recchia Inc. performed tax and accounting advising to Millman. Sheppard, Mullin, Richter & Hampton LLP acted as legal counsel for CBRE.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
Certain of the statements in this release regarding acquisition of Millman Land Services 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. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, the ability to integrate the Millman Land Services business into CBRE’s existing Valuation & Advisory Services business as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we 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 other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2022 and Form 10-Q for the period ended March 31, 2023. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at [email protected].