LOS ANGELES — CBRE Group Inc. and U.S. Equities Realty LLC have announced they will combine their Chicago area operations. U.S. Equities Realty leases and manages 17 million square feet of commercial space in Chicago, including the Willis Tower (formerly Sears Tower) and 2.5 million square feet along Michigan Avenue.
It also has completed real estate transactions with companies such as Winston & Strawn, Boston Consulting Group, IBM, Hinshaw & Culbertson, Ventas, Lurie Children’s Hospital, Taft, Stettinus & Hollister, Nike, Verizon Wireless and Crate & Barrel.
“Throughout our 36-year history, U.S. Equities has aggressively pursued every opportunity to anticipate the changing needs of our clients,” says Bob Wislow, chairman and CEO of U.S. Equities. “CBRE’s global platform, along with its extensive service offering and broad expertise, will expand and enhance our ability to serve clients — in Chicago and around the world — and to provide additional growth opportunities for our professionals.
In turn, the development/program management, owner’s representation and consulting services we provide will strengthen the services CBRE can provide to its clients. Joining CBRE builds upon our solid foundation of success while enabling us to continue our strong, historic commitment to the city of Chicago and its important civic, professional and cultural institutions.”
Founded in 1978, U.S. Equities offers commercial real estate services including agency leasing, property and facilities management, tenant representation, investment sales, development and project management, owner’s representation, sustainability consulting and advisory services.
The company has been responsible for Chicago-area projects, including the development, renovation, repositioning, management or leasing of buildings such as the Willis Tower, the John Hancock Center, Harold Washington Library, Stroger Hospital, One Financial Place, Comer Children’s Hospital and Millennium Park. The company’s U.S. portfolio includes more than 500 properties across the office, retail, institutional, dormitory and residential sectors.
“With today’s announcement, we are re-defining excellence in Chicago real estate services,” says Chris Connelly, executive managing director of CBRE’s Chicago region. “We’re bringing together two of Chicago’s most highly regarded and successful firms that share common values and a passion for outstanding client service. We are thrilled to have U.S. Equities join us, and we look forward to working with our new colleagues to enhance the services we offer our clients.”
U.S. Equities principals Camille Julmy and Nancy Pacher will join as vice chairmen of CBRE Chicago. Katie Scott and Marty Stern will join CBRE as senior managing directors and Wislow will serve as chairman of CBRE Chicago. Together with the other members of U.S. Equities’ senior leadership, they will work with Connelly and CBRE’s Chicago leadership team.
Under the agreement, CBRE has acquired U.S. Equities’ United States operations, effective immediately. U.S. Equities has approximately 400 professionals in Chicago who will continue to service their clients in the same capacities with the combined firm.
“We are delighted to have this unique opportunity to bring together the talents of U.S. Equities’ professionals with the power of CBRE’s brand, people and service offering,” says Cal Frese, CEO of the Americas at CBRE. “Nancy, Camille, Katie, Marty, Bob and their colleagues have an excellent reputation for high-quality work and a strong client roster. Combining our two firms’ existing strengths in Chicago will further enhance our market leader position.”
— Haisten Willis