CB Richard Ellis Group, Inc (NYSE:CBG) announced that it is the first recipient of Frost & Sullivan's Global Excellence in Outsourcing Award in the commercial real estate services sector. In selecting CB Richard Ellis as the world's premier commercial real estate services outsourcing firm, Frost & Sullivan, a leading research and consulting firm, conducted an exhaustive, independent assessment of the commercial real estate services industry globally.
Frost & Sullivan researchers evaluated five leading outsourcing firms based on the following criteria:
- Market intelligence
- Cost optimization
- Impact of outsourcing on the firm's growth
- Value creation
CB Richard Ellis achieved an overall weighted average score of 8.2 (on a 1 to 10 scale), well ahead of the 7.4 weighted average score for the second place firm. CB Richard Ellis earned especially high scores for cost optimization and value creation