CBRE is trading in its Cali-cool shades for a pair of cowboy boots.
The world’s biggest real estate services firm is moving its headquarters from Los Angeles to Dallas, the Dallas Morning News reported.
Company CEO Robert Sulentic, who headed the Dallas-based developer Trammell Crow Co. when it was acquired by CBRE in 2006, already has an office in the Texas city and splits his time between there and L.A.
The move is seen as a symbolic boost for the Dallas-Fort Worth area, which according to the Dallas Morning News led the country in commercial real estate sales through the first nine months of 2020.
CBRE isn’t expected, however, to move a significant number of jobs from L.A. to Dallas. The company employs around 100,000 people in more than 530 offices worldwide.
In New York City, the company recently consolidated offices in its local headquarters at the MetLife Building. [Dallas Morning News] — Rich Bockmann