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Deals & Dealmakers

CBRE continues to bolster retail platform with Midwest purchase

CBRE Group has acquired Sitehawk Retail Real Estate, one of the leading retail real estate services firms in the Midwestern U.S.

Based in Indianapolis, Indiana, Sitehawk helps retailers, including Costco, Ross Dress For Less, Hobby Lobby, JCPenney, Gap, LA Fitness, Darden Restaurants and other retailers, plan and execute their real estate strategies on a local and regional basis.

It also provides leasing and management services for investors who own retail property — such as Kimco Realty, RPAI, VEREIT — and services a portfolio of approximately eight million SQUARE FEET.

Founded in 1982 as The Linder Company of Indiana and renamed as Sitehawk in 2007, the firm is led by principals Larry Davis, Steve Delaney, Scott Gray and Mark Perlstein, who will join CBRE in regional retail leadership roles.

“The addition of Sitehawk significantly enhances our offering for retail clients across the Midwest,” said John Merrill, managing director and market leader for the CBRE Indianapolis office.

“Sitehawk professionals are highly regarded across the region.”

The acquisition of Sitehawk follows CBRE’s acquisitions of two other retail real estate service companies: Dallas-based United Commercial Realty (UCR) (January 2015) and Philadelphia-based Fameco (September 2013).“We are highly committed to building the premier retail real estate services offering in major markets across the U.S.,” said Cal Frese, chief executive officer, Americas, for CBRE.

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