CBRE Acquires Johnson Controls’ Global Workplace Solutions

CBRE Group announced in late March of 2015 that it has entered into a definitive agreement to acquire the Global WorkPlace Solutions (GWS) business of Johnson Controls. GWS is a market-leading provider of Integrated Facilities Management solutions for major occupiers of commercial real estate and has significant operations around the world. GWS will operate as part of CBRE’s Global Corporate Services (GCS) business, providing clients with a full range of combined occupier services including CBRE’s leasing expertise and GWS’s engineering technologies. CBRE and Johnson Controls also announced a 10-year strategic relationship. CBRE will provide Johnson Controls with a full suite of integrated corporate real estate services (including facilities management, project management, and transaction services) on more than 50 million sf and Johnson Controls will offer a factory-direct relationship on HVAC equipment, building automation systems, and related services to CBRE for its managed properties. In addition, the companies will jointly fund an innovation lab that will develop leading-edge energy management solutions to lower costs and enhance their clients’ work environments. The joint innovation lab will leverage products, services, and energy data to create value for occupiers and investors of real estate.