CBRE nets landmark management contract.

CB Richard Ellis announced that the company's Asset Services group has been awarded a contract to provide property management services for a 25 million-square-foot California portfolio owned by AMB Property Corporation.

The approximately 300 buildings, evenly divided between Northern and Southern California, encompass industrial parks, distribution centers and warehouses in the Bay Area and greater Los Angeles markets. With these additional properties, CBRE's California management portfolio totals more than 100 million square feet, the largest in the state.

AMB is CBRE's largest industrial Asset Services client, with a portfolio now approaching 29 million square feet.

Transition of the AMB property engagement is being handled by Dave Pogue, Senior Managing Director for Asset Services' Western Region. who says, "This is a notable addition to CBRE's management portfolio, and we will work closely with AMB in tailoring a highly individualized management program that enhances AMB's service goals for its tenant/customers."

CBRE's management and operations teams at AMB properties will be exclusive to the AMB undertaking, thus providing a total focus on and commitment to tenant satisfaction and ease of commerce.

"AMB is one of our key Strategic Account clients that recognizes and embraces the value of our extensive integrated platform of services," says Jana Turner, President of CBRE's Asset Services. "The AMB brand is closely tied to the delivery of local service to global customers. We're honored to partner with a high-integrity company like AMB and are excited to work with them to solve the challenges and capitalize on the opportunities inherent to a growing portfolio."

"Expanding the relationship with CBRE builds on our positive experience with their focus on customer service and operating results," said Bruce H. Freedman, AMB executive vice president.