CBRE Acquires Custom Spaces, the Bay Area’s Premier Boutique Real Estate Advisor to the Tech Sector

LOS ANGELES–(BUSINESS WIRE)–CBRE Group, Inc. (NYSE: CBG) today announced the acquisition of the
business of Custom Spaces, a San Francisco-based, technology-focused
boutique real estate brokerage firm that advises leading technology
companies such as Airbnb, Cruise Automation, Medium, Gusto and Coinbase,
on occupancy strategies. The acquisition confirms CBRE as the leading
real estate advisor in the Bay Area for technology companies and
fortifies its Technology Practice globally.

Jenny Haeg, founder and CEO of Custom Spaces, will join CBRE as a Vice
Chairman within its Advisory Transaction Services business and will
have a leadership role with CBRE’s global Technology Practice. This
practice group consists of CBRE Advisory and Transaction Services
professionals who collaborate to meet the real estate requirements of
technology companies – from Fortune 100 multi-nationals to high-growth,
mid-cap companies, to emerging venture capital backed start-ups.

“We are delighted that Jenny and her team have joined CBRE,” said Joe
Wallace, Executive Managing Director, Bay Area, CBRE. “Tech companies
operate in an incredibly dynamic environment. There are very few real
estate advisors who, like Custom Spaces, both understand the unique
requirements of the tech sector and can implement related plans quickly
at scale. CBRE’s global service offering ensures that Custom Spaces and
their clients have access to best-in-class strategy, analytics and real
estate execution anywhere in the world.”

“Custom Spaces was founded to help technology companies scale and
achieve their real estate objectives in a way that is consistent with
their unique identity and culture. In speaking with CBRE leadership, it
quickly became apparent that they shared our mission of a service-based
firm that puts our clients’ needs first in a personalized way. Joining
forces with CBRE and leveraging their market-leading position globally
and broad-based service offering, will enable us to do this for more
clients, in more ways and in more markets. We are excited to continue
building the definitive real estate platform for technology companies
around the world,” said Ms. Haeg.

“We are excited to welcome Custom Spaces’ valued clients to CBRE. The
combination of our two firms creates a powerful and market-leading
platform to serve technology companies. We look forward to earning the
right to help these important clients grow by consistently delivering
exceptional outcomes – on every assignment,” said Jack Durburg, CEO,
Americas, CBRE.

“Custom Spaces has built a very capable team and great brand through a
tireless commitment to acting in the best interest of its clients and
cultivating strong relationships. Joining forces with CBRE will
undoubtedly bring access to cross-disciplinary expertise and horsepower
that will only further help Airbnb achieve our real estate goals and
objectives,” said Tido Pesenti, Director, Global Real Estate,
Procurement Travel, Airbnb.

Ms. Haeg founded Custom Spaces in 2011. In addition to the Bay Area, the
firm has developed real estate solutions for tech companies in markets
such as New York, Los Angeles, Tokyo and London.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and SP 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.

Forward-Looking Statements

Certain of the statements in this release regarding the acquisition of
Custom Spaces 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
Custom Spaces’ 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 June 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 investorrelations@cbre.com.

Article source: http://www.businesswire.com/news/home/20171018006201/en/CBRE-Acquires-Custom-Spaces-Bay-Area%E2%80%99s-Premier

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