Last week, CBRE expanded their retail presence by acquiring the Philadelphia based retail real estate company, Fameco. “Everything we do with our business is client-focused and it was clear to us that this merger was going to deliver to our most important clients – both institutional and private – exactly what they’re looking for in a real estate services provider,” explained Robert Walters, executive managing director for CBRE in Philadelphia.
CBRE had recognized a gap in its commercial real estate span, and had an eye on Fameco for quite some time now. “We saw an opportunity but we also saw a need [and we knew] if we truly want to be the retail market leader, we needed to fill that void and align ourselves with a great company like Fameco. Looking around at Fameco, we immediately saw, like us, a premier company, market-leading within the retail brokerage space, and we saw culturally a potential fit,” said Walters. Fameco has a great reputation in the retail real estate world, particularly in Pennsylvania, New Jersey, and Delaware. Their pool of services includes retailer representation, agency leasing, investment sales, and land brokerage.