CBRE Starts Rolling Out Tech/Media Practice
CBRE has begun rolling out its new nationwide Technology & Media Practice, partly in response to the strong growth of the high-tech sector within the U.S. office market.
By Scott Baltic, Contributing Editor
CBRE/New England’s Adam Brinch (left) and Kevin Kennedy (right).
CBRE has begun rolling out its new nationwide Technology & Media Practice, with the announcement yesterday that CBRE/New England’s Kevin Kennedy and Adam Brinch have joined the group and will cover that region out of the company’s Boston office.
The new practice is described as “a network of industry professionals focused on real estate solutions for technology and media companies … [and] formed to address the needs of growing companies in these sectors, from angel investment to IPO and beyond.”
“CBRE has a tremendous amount of data and best practices to leverage in these areas,” John Frager, the group’s San Diego–based executive managing director, said in a release. “The formation of this group will allow that information to be analyzed, shared and implemented … across the organization. This dissemination of real-time intelligence and best practices offers our clients world-class real estate solutions.”
A more comprehensive announcement will be forthcoming soon, a CBRE spokesperson told Commercial Property Executive.
Meanwhile, it appears that the Technology & Media Practice will have a presence in Atlanta, Austin, Boston, Chicago, Dallas, Denver, Los Angeles/Orange County, New York City, Philadelphia, Portland, Raleigh-Durham, San Diego, San Jose/Silicon Valley, Seattle and Washington, along with the EMEA and Asia/Pacific regions overseas.
Kevin Kennedy joined CBRE/NE following its merger with Insignia/ESG in July 2003 and is currently a first vice president with the Urban Brokerage group.
Adam Brinch joined CBRE/NE in 2005 and is a vice president with the Urban Brokerage team, where he concentrates in the Cambridge submarket on tenant and landlord assignments in the tech and life sciences sectors.
The high-tech sector has been a major driver in the recovery of the U.S. office market, with the industry responsible for one-fourth of all new office-using jobs created in the United States between 2009 and May 2014, according to CBRE’s just-released report “U.S. Tech-Twenty: Measuring Office Market Impact.”
High-tech was also the top industry in terms of leasing office space nationally, accounting for 20 percent of major leasing activity so far in 2014, up from 14 percent in 2013.
San Francisco leads the U.S. Tech-Twenty Office Markets list for the third straight year. Over the past two years, its high-tech job base has grown by 51 percent.
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