{"id":1004111474,"date":"2015-01-20T05:16:51","date_gmt":"2015-01-20T13:16:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004111474"},"modified":"2022-12-08T12:17:38","modified_gmt":"2022-12-08T20:17:38","slug":"cbre-adds-ucr-in-latest-expansion-effort","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-adds-ucr-in-latest-expansion-effort\/","title":{"rendered":"CBRE Adds UCR in Latest Expansion Effort"},"content":{"rendered":"
\"Ashmore\"<\/a>

Mickey Ashmore, UCR<\/p><\/div>\n

By Scott Baltic, Contributing Editor\u00a0<\/i><\/p>\n

CBRE Group Inc. has acquired United Commercial Realty, of Dallas, a CRE firm that specializes in retail services, CBRE announced late Friday. Financial terms of the acquisition were not disclosed.<\/p>\n

UCR manages about 8 million square feet of retail properties across the United States for institutional investors such as Prudential Real Estate Investors, Deutsche Asset and Wealth Management, Invesco, Heitman and Miller Capital Advisory.<\/p>\n

Some of the higher-profile shopping centers the firm manages, a UCR spokesperson told Commercial Property Executive<\/i>, are The Shoppes at Arbor Lakes, Maple Grove, Minn.; Hill Country Galleria, Austin, Texas; Desert Crossing, Palm Desert, Calif.; Danada Square West, Wheaton, Ill.; Twin Creeks Village, Allen, Texas; and Lakeside Market, Plano, Texas.<\/p>\n

In addition, UCR and its urban leasing division serve as leasing agent for 20 million square feet of shopping centers nationally, including many mixed-use properties and lifestyle and regional centers.<\/p>\n

On the tenant-rep side, UCR represents more than 200 retailers and restaurants, among them Target, Capital One, Sprouts, Sur La Table, Victoria\u2019s Secret, Athleta, the Gap and Starbucks.<\/p>\n

The firm also provides brokerage services for institutional investors and for retailers across Texas and in other markets.<\/p>\n

UCR\u2019s staff of more than 100 personnel, including the firm\u2019s affiliate office in Austin, will join CBRE. President\/CEO Mickey Ashmore will become vice chairman, retail services for CBRE, with responsibility for directing key national retail strategies for the firm, while overseeing CBRE\u2019s retail operations throughout Texas. Asset Services (property management) leader Scott Weaver will become a senior managing director in CBRE\u2019s Asset Services team, with national responsibility for retail asset services and driving new retail business.<\/p>\n

UCR was founded in 1988. Ashmore joined the company as its leader in 1991 and later became a primary owner.<\/p>\n

\u201cWe are now able to meet the needs of our institutional clients in ways we have not been able to in the past just by being a part of CBRE\u2019s international platform,\u201d Ashmore told CPE<\/i>. \u201cBy combining CBRE\u2019s resources and national relationships with UCR\u2019s current client roster and regional market expertise, I believe CBRE\/UCR will become the dominant retail service provider in the Southwest.\u201d<\/p>\n

\u201cUCR has a reputation for premier service, creative marketing concepts, innovative retail strategies and exceptional client outcomes,\u201d Michael Caffey, executive managing director of CBRE\u2019s Texas region, said in a release. \u201cThey fit perfectly into our culture and will enable us to expand the range of services we can provide to retail clients.\u201d<\/p>\n

In September 2013, CBRE bought Fameco Real Estate, of Philadelphia, a leading CRE firm specializing in retail in the Mid-Atlantic region. <www.commercialsearch.com\/news\/business-specialties\/investment\/cbre-buys-fameco-expands-retail-presence-in-greater-philadelphia-region\/1004084242.html><\/p>\n","protected":false},"excerpt":{"rendered":"

In order to strengthen its retail side, CBRE Group has acquired United Commercial Realty.<\/p>\n","protected":false},"author":952,"featured_media":1004111477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742],"tags":[],"class_list":["post-1004111474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest"],"acf":[],"yoast_head":"\nCBRE Adds UCR in Latest Expansion Effort - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cbre-adds-ucr-in-latest-expansion-effort\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBRE Adds UCR in Latest Expansion Effort\" \/>\n<meta property=\"og:description\" content=\"In order to strengthen its retail side, CBRE Group has acquired United Commercial Realty.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbre-adds-ucr-in-latest-expansion-effort\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-01-20T13:16:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T20:17:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Ashmore.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"392\" \/>\n\t<meta property=\"og:image:height\" content=\"336\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-adds-ucr-in-latest-expansion-effort\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cbre-adds-ucr-in-latest-expansion-effort\/\",\"name\":\"CBRE Adds UCR in Latest Expansion Effort - 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