CBRE Group 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 s/f of retail properties across the U.S. for institutional investors such as Prudential Real Estate Investors, Invesco, Heitman and Miller Capital Advisory.
CR is the second regional retail real estate firm CBRE has acquired in the past 16 months, following its purchase of Fameco in September, 2013.
“The UCR acquisition reflects our strategy to strengthen our position in the retail real estate sector nationally,” said Cal Frese, chief executive officer, Americas, for CBRE. “We see considerable opportunity to enhance the depth and breadth of our service offering to retail investors and occupiers.”
