CBRE Group, Inc., the world’s leading commercial real estate services firm, took home top honors in the Westchester/Fairfield County Region at this year’s National Association of Industrial and Office Properties’ (NAIOP) Awards Gala on April 20, 2017.
CBRE garnered Connecticut “Project of the Year” for the largest office sale at $130 million in Fairfield and Westchester County in 2016. CBRE managed, leased and sold the Greenwich Office Park for Clarion Partners, the asset manager for the owner, Oregon Public Employee Retirement System.
CBRE Property Management oversaw the $16 million capital investment project which has been ongoing since 2014. The leasing team headed by David Block increased occupancy from 68% in 2014 to 83% in 2016. The CBRE Investment Team of Jeffrey R. Dunne, Steve Bardsley and Travis Langer focused their marketing efforts on the upside to grow revenue through increased occupancy and a medium-term spike in rents. The purchaser, Fareri Associates, plans to further invest in creating additional space for retailers and apartments to make the park more conducive to a live-work-play environment.
In addition to the project of the year honor, CBRE earned the coveted Westchester “Leasing Deal of the Year” award for its role in Wine Enthusiast’s 32,000-square-foot commitment at Reckson’s 200 Summit Lake Drive in Valhalla, NY. The CBRE team of William V. Cuddy Jr., Brian Carcaterra, Michael McCall and Jacqueline Novotny represented the building ownership in the lease negotiations.
The new lease allowed Wine Enthusiast to relocate its corporate headquarters and showrooms from Mount Kisco. The Summit is a Class A corporate park owned and operated by Reckson, a division of SL Green Realty, which is home to a number of Fortune 500 companies. The relocation into The Summit will provide Wine Enthusiast with the ability to double its workforce over the next five years.
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 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.
