CBRE Group, Inc. has announced the acquisition of its affiliate commercial real estate services firm CBRE ǀ Memphis.
CBRE ǀ Memphis has served as an affiliate of the CBRE Group, Inc. in Memphis, Tennessee since 1996.
"We have worked with the CBRE | Memphis team for nearly two decades and know firsthand their commitment to service excellence and our core values of respect, integrity, service and excellence. We look forward to working closely with them to create more value for our clients and drive the growth of our business," said John Ferguson, President of CBRE's Southeast Division.
According to the press release of CBRE in Business Wire, the acquisition will combine professionals from CBRE ǀ Memphis and the existing corporate staff of CBRE in the Memphis area, as well as will give the company more than 500 employees in the region. With this acquisition, CBRE now has 14 offices and more than 3,200 employees throughout the Southeast.
CBRE ǀ Memphis is the leading provider of commercial real estate services with the number one market position across the office, retail and industrial sector in the region. The commercial real estate service firm provides its clients with a comprehensive suite of services, including leasing, property sales, property management, project management and consulting.
"We believe our people are the best client service professionals in the Memphis region. By becoming part of CBRE's premier team, we can now seamlessly and effectively serve our clients' needs across the country and around the world," said Kevin Adams, who joins CBRE as a Senior Managing Director.
Memphis, the largest city in Tennessee with a metro area population of over 1.3 million, is the home of some corporate international headquarters such as FedEx, International Paper, AutoZone and ServiceMaster. The world's busiest cargo airport that serves as the primary hub of FedEx can also be found in Memphis. Other notable facilities in Memphis are the Baptist Memorial Healthcare, one of the nation's largest not-for-profit health care systems, and the St. Jude Children's Research Hospital, one of the world's premier centers for the research and treatment of catastrophic diseases in children.
