Complex Includes Four Class A Office Buildings and Retail Complex
Houston, TX – February 6, 2012 – (RealEstateRama) — CBRE Group, Inc. (NYSE:CBG) today announced that it has been selected by J.P. Morgan Asset Management, acting on behalf of institutional investors it advises, to provide property management and leasing services for Houston Center—a property that includes four Class A buildings, encompassing approximately 4.2 million sq. ft. of retail and office space. Houston Center is located in the vibrant east side of downtown Houston and consists of 1 Houston Center, 2 Houston Center, 4 Houston Center, Fullbright Tower and The Shops at Houston Center.
“Houston Center epitomizes world-class office and retail and we look forward to delivering the premier level of service and performance this significant assignment deserves,” said Tony Long, President of Asset Services for CBRE.
CBRE assumed management and leasing responsibilities at the end of January, 2012. Houston Center will benefit from CBRE enhancements, including top-of-the-line appearance standards, premier-level tenant relations, improved operations management, streamlined communication and synergy between management and leasing.
“CBRE’s appointment is evidence of its proven platforms and unsurpassed experience with similar premier properties,” said Mark Nicholson, Managing Director of Asset Services for CBRE in Houston. “Our strength, strategy and creativity will assist J.P. Morgan in achieving their goals for this significant asset and enhance the tenant experience.”
Built between 1978 and 1984, Houston Center is recognized as one of Houston’s most prominent office and retail complexes, which helped revitalize the east side area. Since its completion, a host of other large-scale buildings, such as Minute Maid Park, Toyota Center, Discovery Park, Hilton Americas Hotel and Hess Tower, have been built, turning this area of downtown Houston into a thriving and sophisticated destination.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.
About J.P. Morgan
J.P. Morgan Asset Management – Global Real Assets has approximately $57.5 billion in assets under management and 405 professionals in the U.S., Europe and Asia, as of September 30, 2011. With a 40-plus-year history of successful investing, J.P. Morgan Asset Management – Global Real Assets’ broad capabilities provide many of the world’s most sophisticated investors with a global platform of real estate, infrastructure, maritime/transport and energy strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions.