News about CBRE

CBRE Group is acquiring Onnec Group, a London-based provider of data center infrastructure services to major tech companies in Europe and Asia-Pacific. The initial price is 460 million pounds ($613 million), paid entirely in cash, plus a multi-year earnout of up to 300 million pounds ($400 million) tied to unspecified growth milestones. CBRE says the deal will be immediately accretive to its core earnings per share, with Onnec expected to generate 370 million pounds ($493 million) in revenue next year and core EBITDA of over 50 million pounds ($67 million). CBRE shares closed nearly 3% higher as investors welcomed the push into the fast-growing data center market, which is being driven by AI infrastructure demand.

Chicago-based JLL has hired a six-person brokerage team from its major competitor CBRE, including several brokers behind some of the Chicago area's largest recent real estate deals. Dan Lyne, who had been at CBRE since 2013, drove major life sciences projects, including lab space deals in Hyde Park, Fulton Market and Evanston. Kyle Kamin represented Google in its move from River North to Fulton Market and its purchase of the Thompson Center, and said JLL's data and analytics platform was one reason he switched. The hires, which also include Jon Milonas, Brandon Green, Abigail McFadyen and Joe Daivs, signal JLL's push into research facilities, according to the outlet. JLL and CBRE are the two largest commercial real estate brokerages in the United States.