CBRE Announces Plans To Build Market-Leading Presence Across Virginia In January 2019

06 Nov 2018

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CBRE today announced its intention to build a market-leading presence across Virginia, with plans to open new offices with top professionals after its affiliation with CB Richard Ellis of Virginia, Inc. ends on December 31, 2018. 

“Virginia is a key growth market for us and a linchpin in our strategy,” said Kyle Schoppmann, CBRE’s Executive Managing Director, Greater Washington DC Region.  “We intend to build a full-service offering across all business lines in every part of the state.”

CBRE will build its business on a strong foundation. The company already has more than 600 professionals in its wholly-owned business operating in key markets throughout the state, including CBRE employees in the Global Workplace Solutions and Valuations business lines who serve clients in the Richmond and Tidewater areas.

Veteran CBRE executive Jim Reid will oversee the further development of CBRE’s wholly-owned business in Virginia.  Mr. Reid, who formerly served as President of CBRE’s Eastern Division, will lead the process to identify a market leader for Virginia beginning in 2019 and to recruit professionals, particularly specialists in leasing, property management and capital markets, who will join the company on or after January 1, 2019. 

“CBRE already enjoys a market-leading position in Northern Virginia, where we have operated for nearly 40 years.  In 2019, we will extend our leadership and open new offices with top professionals across the remainder of the Commonwealth,” Mr. Reid said. “Our highly regarded brand and the strength and breadth of our business lines nationally and globally provide distinct advantages for investors and occupiers active in Virginia.”

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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.