CBRE Buys U.S. Equities, Combines Chicago-Area Operations
- Jul 17, 2014
CBRE Group Inc. and U.S. Equities Realty L.L.C. have become one.
The commercial real estate giant acquired the 36-year-old boutique effective Wednesday in order to bolster its presence in Chicago and expand its relationships with property owners.
And two is stronger than one, as the two entities will be combining their Chicago area operations.
“We’re bringing together two of Chicago’s most highly regarded and successful firms that share common values and a passion for outstanding client service,” said Chris Connelly, executive managing director, Chicago Region, CBRE, in a news release.
Founded in 1978, U.S. Equities Realty leases and manages 17 million square feet of Chicago property, including the famed Willis Tower (formerly Sears Tower) and 2.5 million sq. ft. of properties along Chicago’s Michigan Avenue. The firm has approximately 400 employees in Chicago who will continue to service their clients in the same capacities under CBRE, according to the news release.
U.S. Equities specializes in agency leasing, property and facilities management, tenant representation, investment sales, development and project management, owner’s representation, sustainability consulting and advisory services.
Its principals Camille Julmy and Nancy Pacher will join as vice chairmen of CBRE Chicago; Katie Scott and Marty Stern will join CBRE as senior managing directors; and Bob Wislow, chairman & CEO, U.S. Equities will serve as chairman of CBRE Chicago.
“CBRE’s global platform, along with its extensive service offering and broad expertise, will expand and enhance our ability to serve clients – in Chicago and around the world – and to provide additional growth opportunities for our professionals,” said Wislow in the news release. “In turn, the development/program management, owner’s representation and consulting services we provide will strengthen the services CBRE can provide to its clients.”
Further terms of the deal were not disclosed.