The country’s largest commercial real estate firm – CBRE Group – is trading its California address for a new headquarters in Dallas.
The international property firm with more than 100,000 employees and more than 530 offices is planning to shift its head office to North Texas.
However, the move is not expected to involve the transfer of a significant number of jobs.
CBRE officials wouldn’t confirm the relocation.
But an announcement is expected tomorrow when the company discloses its quarterly earnings.
CEO Robert Sulentic already has his office in Dallas on McKinney Avenue. He has been splitting his time between Dallas and LA.
One of CBRE’s largest divisions – developer Trammell Crow Co. – is based here. Sulentic was previously CEO of Crow Co.
The Fortune 500 company with more almost $24 billion a year in revenues has a big presence in in the Dallas-Fort Worth area handling real estate