CBRE Group, Inc.has acquired Whitestone Research Corporation, a provider of facilities related cost analytics tools and services.
Based in Santa Barbara, CA, Whitestone provides consulting services, cloud and server-based software tools and statistical indices that accurately model, forecast, and benchmark facilities costs for single assets and global real estate portfolios.
Whitestone also publishes operations and maintenance and repair cost references for markets worldwide.
“Our clients rely on CBRE for strategic advice to maximize the efficiency of their portfolio and optimize their facilities expenses,” said Bill Concannon, CBRE’s CEO of Global Corporate Services (GCS). “Whitestone’s benchmarking and analytical tools, combined with the expertise of their professionals, will enable CBRE to take a more sophisticated, data-driven approach to advising both occupier and investor clients regarding facilities costs.”
The Whitestone team will be part of CBRE’s GCS Consulting Group, led by Karen Ellzey, executive managing director