Dallas, TX
CBRE Acquires Des Moines Affiliate
November 1, 2022
Media Contact
Corporate Communications, Midwest
CBRE Group, Inc. today announced that it has acquired the CBRE | Hubbell Commercial brokerage division of Hubbell Realty Company. CBRE | Hubbell Commercial has served as CBRE’s affiliate in the greater Des Moines, Iowa area since 1996.
CBRE | Hubbell Commercial is the largest commercial real estate brokerage firm in Des Moines. A team of 38 brokerage and support professionals will join the CBRE team.
“CBRE | Hubbell Commercial is a tremendous complement to our business in the greater Midwest,” said Jeff Kaiser, Senior Managing Director, CBRE. “The team embodies our corporate values and we look forward to working with our colleagues to deliver exceptional outcomes for our clients.”
CBRE’s Des Moines operations will be led by Bill Wright, who will serve as Managing Director. Mr. Wright brings 30 years of brokerage experience to the company.
“CBRE is a strong strategic and cultural fit for us, and we are excited to be a part of the premier global platform with the deepest and broadest services to help us meet our clients’ needs,” said Mr. Wright.
Hubbell Realty Company and its remaining divisions are not part of this transaction.
“Following a 26-year affiliation, this transaction signifies the natural evolution of our longstanding relationship with CBRE. We are looking forward to deploying the full strength of CBRE’s Advisory and Transaction team across Hubbell’s commercial real estate portfolio,” said Kyle Gamble, Executive Vice President of Hubbell Realty Company.
Hubbell Realty Company will continue to operate in Central Iowa, Omaha, Nebraska, and Sioux Falls, South Dakota, as it has for the past 165 years.
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 2024 revenue). The company has more than 140,000 employees (including 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.
About Hubbell Realty Company
Hubbell Realty Company is a leading real estate developer and owner, general contractor, professional homebuilder, asset manager, commercial property manager, multi-family manager, and association manager, serving Central Iowa, Omaha, Nebraska, and Sioux Falls, South Dakota.
Forward-Looking Statements
Certain of the statements in this release regarding the acquisition of CBRE | Hubbell 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, our ability to successfully fully integrate the CBRE | Hubbell brokerage operations with our existing team, 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, 2021 and our Form 10-Q for the quarter ended September 30, 2022. 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].