CB Richard Ellis Awarded Preferred Real Estate Brokerage Contracts for the Bay Area and Southern California.SAN FRANCISCO -- CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. (NYSE NYSE See: New York Stock Exchange :CBG CBG corticosteroid-binding globulin. ) today announced the State of California has awarded the company contracts to provide real estate leasing and brokerage services in Northern and Southern California. The three-year contracts began March 1, 2005, and the State has the option to extend the contract for three one-year periods. CBRE's contract represents the first time the State of California has selected a preferred partner to consult on leasing projects in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay . Both contracts were awarded through competitive bidding Competitive bidding A securities offering process in which securities firms submit competing bids to the issuer for the securities the issuer wishes to sell. competitive bidding 1. . "We look forward to working with CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) as our broker on leasing and other pertinent real estate matters," said Michael Stump, leasing manager for the California Department of General Services The California Department of General Services (DGS) is a state government agency in the executive branch of the government of California in the United States. It provides a large number of services to other agencies in the government of California, playing a role that is similar to . "By utilizing CBRE's full platform of services we believe we will be able to uncover more potential properties for state agency locations." The Department of General Services' Real Estate Leasing and Management Section will consult with CBRE on tenant representation for upcoming projects, including office and warehouse leasing, land leasing, build-to-suit leases, and purchases. CBRE's platform of services for the State includes negotiations/lease renewals and new lease space, competitive bid projects, planning/design services, document preparation and other value added services. Working directly with the Department of General Services, CBRE will look for properties for the various executive agencies and occasionally for other branches of state government. About CB Richard Ellis Headquartered in Los Angeles, CB Richard Ellis (NYSE:CBG) is the world's leading commercial real estate services firm (in terms of 2004 revenue). The company serves real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. Including partners and affiliates, CB Richard Ellis has more than 300 offices across 50 countries around the world. Please visit our Web site at www.cbre.com. |
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