RCA in the commercial property press:

CB Richard Ellis Leads 2010's Surge in CRE Activity

Crain's New York Business reports: According to Real Capital Analytics’ (RCA) recently released US Capital Trends 2010 Year-in-Review, the value of the 25 largest commercial property deals last year totaled $9.8 billion. This was nearly four times the volume totaled by equivalent deals in 2009, signaling that “…commercial real estate sales in New York City snapped back with a vengeance from the disastrous depths plumbed in the recession,” according to Crain’s reporter Marine Cole.

Remarkably, Ms Cole points out that commercial broker CB Richard Ellis Inc was involved with either the buyer or the seller of nine of the top 10 deals listed in RCA’s ranking. RCA managing director Dan Fasulo commented that, “[CBRE’s] growth in the marketplace has been amazing,” especially considering the firm was only a minor player in the New York City metro as recently as ten years ago.

Using RCA data, Crain’s identified some of the major deals CBRE was involved with during 2010. Their largest deal came when they helped Google Inc purchase their New York headquarters at 111 Eighth Avenue for $1.8 billion. CBRE also represented Fisher Brothers in their disposition of 55 E 52nd Street to Rockpoint Group for $700 million and UBS Bank in selling their minority share of 299 Park Ave.

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Posted by: Nina Turner

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