CBRE named global real estate outsourcing provider for Hertz (US/EUR)

CB Richard Ellis Group, Inc. (NYSE:CBG) announces that Hertz Corporation has selected the company as its global real estate outsourcing services provider for all Hertz-controlled locations in North America and Europe. The assignment covers almost 3,000 locations including office space, reservations centers, data centers, equipment rental locations and car rental facilities.

CB Richard Ellis will provide a full range of integrated real estate services including transaction management, construction and project management as well as facilities management. The assignment is aligned with Hertz's strategic initiatives aimed at controlling costs, increasing efficiencies, and re-engineering processes to grow revenues and improve operating profitability.

John Thomas, Executive Vice President, Global Supply Chain Management of Hertz, said, "Hertz was seeking to partner with a highly efficient and responsive global real estate services provider to manage the processes and execution of our real estate activities. We selected CB Richard Ellis based on its commitment to customer service and its reputation for providing comprehensive outsourcing services to major corporations around the world."

John Maher, Executive Managing Director of Global Corporate Services for CB Richard Ellis, said, "We are privileged to expand our long term domestic partnership with Hertz into a global outsourcing relationship. Our new partnership combines best-in-class Hertz and CB Richard Ellis resources into "one team" committed to driving efficiencies for Hertz through superior real estate processes, a relentless focus on cost control, and continuous improvement."

Source: FD Tamesis

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