CB Richard Ellis Group, Inc. (NYSE: CBG) has announced that it has been selected by American International Group, Inc. (AIG) to provide facilities, project management and advisory services for AIG's global real estate occupancy portfolio.
The multi-year contract with AIG, one of the world's leading insurance companies, encompasses approximately 17 million ft² (approx. 1.6 million m²). CB Richard Ellis' Facilities Management, Project Management and Labor Analytics Consulting groups will furnish services to AIG.
"This partnership with CB Richard Ellis will help AIG to realize significant efficiencies and cost-savings in our business operations worldwide," said Joe Barile, AIG Senior Vice President, Global Corporate Real Estate & Client Services.
Matthew Pullen, Head of EMEA Global Corporate Services, CBRE, said: "This is a significant example of how large organizations around the world are increasingly finding they can take advantage of CB Richard Ellis's scale and global platform."
CB Richard Ellis signed a record 19 new outsourcing contracts in the third quarter of 2010 and a total of 45 new contracts across the first nine months of the year. In the EMEA region, notable recent contracts include those of Sainsbury's Supermarkets, where CBRE was appointed to provide Estates Management services across its UK portfolio, and United Technologies Corporation, where CBRE was appointed as preferred provider for transaction management, brokerage and strategic real estate advisory services across its property portfolio in Europe, the Middle East, Africa and Russia.
Source: CB Richard Ellis