CBRE Gains Global Ground With GWS Acquisition
With the acquisition of Johnson Controls’ Global Workplace Solutions, CBRE has gained some serious international cred. Global—which earned $3B last year providing enterprise facilities management solutions for commercial real estate tenants—is the largest provider of facilities management outside of the US, giving domestic CBRE (shown: its LA HQ) a stake in markets in every corner of the world. CBRE president and CEO Bob Sulentic said Global helps advance the company’s mission of providing high-quality service to all of its top-tier clients. Hot off the heels of its PKF acquisition, CBRE will bring Global and its other services to its 5B SF of global commercial real estate and corporate facilities. In addition, CBRE and Johnson have formed a 10-year strategic relationship, with CBRE providing services for Johnson’s 50M SF of real estate. Johnson, in turn, joins CBRE’s network of suppliers and partners, offering low pricing on HVAC, security, fire and other services to CBRE clients. The two will also fund an innovation lab to advance workplace solutions.