WASHINGTON, DC-CB Richard Ellis is consolidating its expertise in the defense contractor community into a new national leasing group called the Aerospace and Defense Contractors Practice Group. It will be headquartered here, executive managing director John Germano tells GlobeSt.com.
According to Germano, CBRE has been representing this space for decades, but the changes in the industry require a more formalized approach. “The defense industry is so dramatically affected by what is going on in Washington now with the budget cuts that it has gone into a wait-and-see mode,” he says. If their space needs lesson considerably they will need to make decisions about how to maximize what they do keep, he notes.
We Also Recommend:
- US Customs Takes 96,000 SF at Sentinel Square
- GSA Renews Treasury Dept. Lease for 10 Years
- JLL to be NASA's Exclusive Service Provider
Germano likens the new group to the ones CBRE has established for non-profits, law firms and federal leasing, saying, ‘We form these groups so they can focus and more easily exchange best practices on the specific needs of an industry and its leasing requirements.”
The new defense contractor’s group is bringing together resources from around the US. Besides Washington, DC, there is a heavy defense presence in Baltimore, Norfolk, Denver, Los Angeles, San Diego, San Francisco, San Antonio, Dallas, Houston and McLean, VA.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
