CBRE Strengthens Commitment to Oklahoma, Buys Local Affiliate

By Barbra Murray, Contributing Editor

Michael Caffey, CBRE Texas

CBRE Group Inc. has officially brought its Oklahoma affiliate into the fold. The global commercial real estate services firm recently acquired Tulsa-based CBRE | Oklahoma, after a 15-year relationship.

CBRE | Oklahoma got its start as Tulsa Properties in 1978. In 1999, the firm began serving as CBRE’s partner, covering metropolitan Tulsa and Oklahoma City, as well as northwest Arkansas, and offering a comprehensive line of services. Today, the firm manages in excess of 18 million square feet in the region.

“The Oklahoma group is a great operation that is recognized as a regional leader in leasing, investment sales, property management and corporate services,” Michael Caffey, Executive Managing Director, Texas Region, CBRE, told Commercial Property Executive. “Our shared values and commitment to excellence will allow us to expand our work together and continue to drive exceptional outcomes for our clients.”

Oklahoma! As Caffey describes in a press release, Oklahoma is a growing business center in the Southwest and the region is being buoyed by the energy, aerospace and defense contracting sectors. So, the timing is right for CBRE to reinforce its commitment in the state

It’s been a busy couple of weeks for CBRE. CBRE Global Investors, an independently operated affiliate of CBRE, announced the formation of a joint venture with JBG Cos. to acquire as much as $500 million of premier office, retail and multi-family assets. The partners’ first purchase is the 232,000-square-foot The Foundry office building in Georgetown. Additionally, there was big news on the corporate level with CBRE’s launch of its new global brand positioning: transforming real estate into real advantage.