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CB Richard Ellis Group, Inc.
Type Public (NYSECBG)
Founded 1998
Headquarters Los Angeles, California, USA
Key people Richard C. Blum, Chairman;
Laura D. Tyson, member of the Board;
Brett White, President, CEO & Director
Kenneth J. Kay, CFO & SEVP
Industry Commercial Real Estate Services
Products Asset Services, Brokerage, Capital Markets, Consulting, Corporate Services, Debt & Equity Financing, Facilities Management, Industrial, Investment Brokerage/Agency, Investment Management, Mapping Services, Project Management, Property Management, Research & Investment Strategy, Retail, Specialty Services and Valuation & Advisory Services
Revenue $5.129 billion USD (2008)[1]
Employees 34,500+
Website CBRE.com[2]

CB Richard Ellis Group, Inc. NYSECBG (known as CBRE) is a multinational real estate corporation based in Los Angeles, California in the United States of America. The company is the world's largest commercial real estate services firm[3][4] and currently manages 1.7 billion square feet of building space.[5] In 2008, they ranked 11th on the BusinessWeek list of top 50 companies,[6] 33rd on Fortune Magazine's 100 fastest growing companies,[7] 29th on the IAOP Global Outsourcing Leaders list of 100,[8] and 404th on the Fortune 500.[9]

Contents

History

The firm, Richard Ellis International, Limited was founded 1773 in London.

Tucker, Lynch & Coldwell was established August 27, 1906 in California following the 1906 San Francisco earthquake as a commercial real estate brokerage firm. Benjamin Banker was hired as a salesman in 1913 and the following year, was named partner. The company expanded throughout southern California and opened a residential real estate office in 1925. By 1937, a residential real estate department was established. Tucker Lynch & Coldwell was renamed Coldwell, Banker & Company in 1940. During 1952, the company opened its’ first office outside California in Phoenix, Arizona, followed by one in Seattle, Washington in 1969. That same year, the company began trading stock. During the 1970’s, the company expanded their residential real estate markets by acquiring firms in Atlanta, Chicago, and Washington, D.C.. The New York City commercial real estate firm, Sutton & Towne, Inc. was acquired in 1980 before Sears, Roebuck & Co. acquired Coldwell Banker in 1981.

In 1989, the company's commercial division was spun off as a separate, private company from Coldwell Banker Real Estate and sold to a group of investors, management and employees who named it CB Commercial. After several profitable years, the company went on a buying spree and acquired Westmark Realty Advisors in 1995, L.J. Melody & Company mortgage bankers in 1996, Koll Real Estate Services in 1997 and Hiller Parker in 1998. CB Commercial became a public company in 1996. In order to expand into international markets, CB Commercial and Richard Ellis International, Limited (REI Ltd.) merged in 1998, which resulted in a new company named, CB Richard Ellis (CBRE). In 1999, Japanese operations were merged with Ikoma Corporation. That same year, the company acquired Sweden's Profit Group and Chile's LirAntunez Propiedades. CBRE was privatized in 2001 in order to facilitate organizational changes. The Insignia Financial Group was acquired in 2003, then CBRE returned to the New York Stock Exchange in 2004.[10] At the end of 2006, CBRE completed the acquisition of competitor Trammell Crow Co. in a transaction valued at $2.2 billion.[11][12]

CBRE's current corporate headquarters at 11150 Santa Monica Boulevard, Los Angeles, CA

Services

The Asset Services division offers management services for retail, commercial and industrial property. The Brokerage division provides valuation/advisory services and acquisition/marketing of property assets. The Specialty Services division is a resource and provides consulting for research & investment strategy, debt & equity financing, investment management, mapping services, project management, corporate services and capital markets.

Corporate responsibility

CB Richard Ellis France

In conjunction with the Natural Resources Defense Council, CB Richard Ellis developed a plan to assist clients with energy efficiency programs involving both technology and practices. The company plans to be carbon neutral by 2010.[5] As part of that process, the company was identified as a 2008 Energy Star award winner.[13]

In recognition of the value that CBRE places on corporate responsibility, they were named one of 41 businesses on the Companies that Care Honor Roll for 2008[14]

National Competitors

On the international level, CBRE competes largely with JLL, C&W , NAI and Knight Frank.

References

External links

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