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CBRE is beefing up its connectivity advising services with the acquisition of a suburban Boston telecommunications firm.
CBRE, the largest commercial real estate services firm in the world, announced Monday it bought Newton, Massachusetts-based New England Fiber Inc., a telecom and network infrastructure advisory firm.
The NEF acquisition comes as building owners are pressured to update their properties’ wireless infrastructure, especially as cellular networks upgrade to 5G and internet providers roll out new versions of WiFi and fiber connectivity.
“New technologies, such as 5G, will increase the focus of many occupiers on network capabilities when making real estate decisions,” CBRE Global President of Advisory and Transaction Services Whitley Collins said in a statement. “NEF will give us the technical expertise to advise clients on network capabilities and ensure that we deliver exceptional outcomes for them across the globe.”
NEF specializes in IT infrastructure like multinational connectivity, cloud computing, business IT optimization and data center and co-location, according to its website.
“We have worked hard to build a reputation as a market leader in designing and procuring network infrastructure over the past 15 years,” NEF President and CEO Michael Murphy said in a statement. “We are excited about the opportunity to help CBRE’s broad client base navigate the rapidly changing network infrastructure market.”
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