WASHINGTON (dpa-AFX) - CBRE Group Inc (CBG), a commercial real estate services and investment company, on Friday said it has acquired United Commercial Realty ('UCR'), a Dallas, Texas-based commercial real estate firm specializing in retail services.
UCR manages retail properties for institutional investors nationally and provides brokerage services for them and for leading retailers across Texas and other markets.
'The UCR professionals are a wonderful addition to our team in Texas and our national retail brokerage and property management business,' said Michael Caffey, executive managing director, Texas Region, CBRE.
UCR was founded in 1988. The company manages approximately eight million sq. ft. of retail properties across the U.S. for institutional investors such as Prudential Real Estate Investors, Deutsche Asset and Wealth Management, Invesco, Heitman and Miller Capital Advisory.
In addition, UCR and its urban leasing division serve as leasing agent for 20 million sq. ft. of shopping centers nationally, including many premier mixed-use properties and lifestyle and regional shopping centers.
On the tenant representation side, UCR currently represents over 200 retailers and restaurants, including Target, Capital One, Sprouts, Sur La Table, Victoria's Secret, Athleta, the Gap and Starbucks.
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