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.
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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.
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