CBRE Group, Inc. (NYSE:CBG) today announced it has acquired Fameco, a leading firm specializing in retail real estate services in the U.S. Mid-Atlantic region. The acquisition of Fameco significantly bolsters CBRE’s retail service offering in the greater Philadelphia area and throughout the Mid-Atlantic region.
Founded in 1992, Fameco provides retailer representation, agency leasing, investment sales, land brokerage and property management in Pennsylvania, New Jersey and Delaware. With the acquisition, CBRE will add 250 shopping centers and retail properties, totaling 20 million sq. ft., to its leasing portfolio; 20 million sq. ft. of retail property management assignments; and 75 retailers to its tenant representation roster.
“The Fameco professionals are a wonderful addition to our team,” said Robert Walters, Executive Managing Director, Philadelphia, for CBRE. “They fit our culture perfectly, share our passion for excellence and complement our existing capabilities extremely well. By bringing together the power of CBRE’s global platform with the specialized retail expertise of Fameco, we will further enhance both our position in the marketplace and the quality of our service offering.”
“We are very excited about the possibilities that should open up for us – and for our clients – now that we are part of CBRE,” said Brandon Famous, co-founder of Fameco.“We have worked diligently for the past two decades to provide our clients with premier services,” added Jeffrey Cohen, co-founder of Fameco. “By joining forces with CBRE and accessing its deep capabilities, resources and collaborative culture, we can more effectively meet our clients’ needs on a regional, national and global basis.” “The Fameco acquisition reflects our strategy to strengthen our presence in the retail real estate sector nationally,” said Cal Frese, Chief Executive Officer, Americas, for CBRE. “We see considerable opportunity to expand the depth and breadth of our service offering to retail investors and occupiers across the country, and this transaction certainly advances our growth agenda.”