CBRE Wins 7M-SF ING Clarion Assignment

Drew Genova, Washington, DC-based senior managing director of strategic accounts for CBRE, tells GlobeSt.com that the individual buildings range from approximately 100,000 sf to 500,000 sf and that the occupancy of the portfolio is in the high 90% range. Genova and Tony Long, Dallas-based president of Americas asset services with CB Richard Ellis, created the account model that won the assignment for CBRE.

Genova and Long and will continue as senior advisers to ING on the management of the properties, which ING formerly managed in-house. As Genova explains to GlobeSt.com, the model for managing the new account calls for John Greenwood of CBRE's Wayne, PA office to manage the account's day-to-day activities under the title of alliance director.

"We really looked at this, in large part, in the same way as we look at the corporate side of our business," Genova says. Whereas properties under third-party managers traditionally have been run by a local office in contact with the local representative for the building ownership, Genova says, "In this instance, given that it's a national assignment crossing multiple markets, we felt that it was much better to assign a person that the client can communicate with regardless of where a property is located."

Genova explains that one result of this structure will be "to have us look like ING in delivering day-to-day services so that we maintain the ING brand's image in the market." Greenwood, as point person on the account, will have true account oversight on the ING portfolio.

"This will mean his full involvement with the client and with each of the individuals at CBRE who will be responsible for delivering the day-to-day services," Genova adds. Greenwood, in addition to the CBRE asset services organization, will be supported by more than 50 ING Clarion employees who will join CBRE as part of the agreement.

Winning the ING Clarion account, "speaks to our platform and our depth," Genova comments. He says that ING focuses intently on providing high-quality management for its properties and that CBRE's model is designed "to operate the properties at the same level high level of quality" as ING did in managing the properties itself.