CBRE and Streetsense Announce Joint Venture (PR Newswire)
November 15, 2017
CBRE and Streetsense Announce Joint Venture to Advise Clients on Creating Compelling Consumer Experiences
CBRE Enhances Its National Retail Capabilities with Acquisition Of Streetsense’s Retail Brokerage Operations
Los Angeles – November 15, 2017 – CBRE Group, Inc. (NYSE: CBG) today announced it has acquired a 50% interest in Streetsense, a privately-held strategy and design company, creating a joint venture to provide services that help retailers and other clients create compelling consumer experiences.
As part of the strategic investment in Streetsense, CBRE has acquired Streetsense’s retail brokerage operation, which serves clients in the greater Washington, D.C. market. The firm’s 17 professionals have joined CBRE and the new brokerage business will be called Streetsense|CBRE. The combination of Streetsense’s and CBRE’s highly talented professionals significantly strengthens CBRE’s presence in the Washington, D.C. market and further solidifies its best-in-class retail offering nationally.
“Streetsense’s focus on ‘creating brands people love and places people love to be’ will be amplified by CBRE’s powerful service offering, client base and commitment to innovation. Together, we strengthen our ability to connect with end-users across industries and geographies,” said Anthony Buono, CBRE Executive Managing Director, Americas Retail Advisory & Transactions Services.
Streetsense was founded in 2001 and has become known for helping clients create emotional connections with their customers through insight-driven strategy and design. With offices in both Washington, D.C. and New York, the firm has created engaging brands, places and consumer experiences for a diverse range of clients including The Ritz-Carlton, JBG Smith, Interbake Foods, General Growth Properties, Chef Mike Isabella, and the Detroit Economic Growth Corporation.
“With CBRE as our partner, Streetsense is even better positioned to unlock value for brands and places and drive demand for clients,” said Brian Taff, President, Streetsense. “Our nearly 200 creative professionals will greatly benefit from CBRE’s broad range of advisory and transaction capabilities, as well as their international industry relationships. With CBRE, we have a partner that shares our vision to create transformative outcomes for our clients and their customers.”
CBRE’s consumer experience joint venture with Streetsense adds a critical component to CBRE’s toolkit for advising clients on real estate needs amid shifts driven by e-commerce and changing consumer preferences. CBRE’s suite of retail and omnichannel advisory services includes location analytics, store-portfolio optimization, predictive consumer analytics, supply chain services and retail project management.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated 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.
Streetsense is an experience-focused strategy and design collective that creates brands people love and places people love to be. Powered by in-depth insights and an interdisciplinary approach, we are experts at creating, transforming, and driving consumer demand to brands and places. To learn more about our impact, visit www.streetsense.com, and follow us on Twitter and Instagram at @realstreetsense and on Facebook at facebook.com/realstreetsense.
Certain of the statements in this release regarding the establishment of a joint venture with Streetsense and the acquisition of its brokerage operations, 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 integrate Streetsense’s design, consulting and brokerage professionals with our existing operations in the U.S., 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, 2016, and our Form 10-Q for the quarter ended September 30, 2017. 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]