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[IMGCAP(1)]LOS ANGELES-CB Richard Ellis and EWB LLC have formed a new non-exclusive alliance that will specialize in acquisition, leasing, marketing and disposition services for the value retail and the outlet sector, according to officials of the two firms. CBRE professionals Richard Frolik and Derrick Almassy will assist in the delivery of services from CBRE Retail Services. EWB principals Lisa Quier Wagner, Peter Edelmann and Andrew Boyle will coordinate the alliance’s activities including serving existing outlet and value centers, repositioning of other types of retail assets into value as well as outlet and hybrid projects and new developments in under-served markets.

[IMGCAP(2)]Anthony Buono, CBRE executive managing director, says that the Los Angeles-based company has formed the alliance with EWB “in response to the proliferation of retail assets in need of adaptive re-use, and the orientation toward value being expressed by the American consumer.” CBRE has been serving outlet owners, but only on the capital markets and property management segments since the late 90′s. The company “realized that if we could link with a provider of the leasing and marketing functions required of an operating outlet center, we could offer a complete solution for owners and their tenants of both existing value and outlet centers and assets that could be adapted,” Buono explains.

CBRE and EWB have already had success working together in arranging the sales of several outlet centers, including Gettysburg Village in Gettysburg, PA and Quality Center in Lancaster, PA, Buono points out.

Frolik and Almassy are both based in Chicago. The EWB principals are based in Philadelphia, Washington DC and Burlington, VT.

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