London, 4 March 2009
– In one of the most significant global property contracts awarded in recent years, CB Richard Ellis Group, Inc (NYSE: CBG) announced today that it has been selected by
Nokia (NYSE: NOK), the world's largest manufacturer of mobile phones, as their exclusive global strategic real estate advisor, including transaction management,
brokerage and lease administration services.
The agreement will cover Nokia's 20 million square foot global portfolio, encompassing over 380 properties in 60 countries across Europe, the Middle East, Africa, Asia and the Americas.
CBRE was selected by Nokia after a structured market evaluation process conducted over the past half year. Recognized as one of the most innovative corporations in the world, Nokia is also well known within the real estate industry for structuring a highly adaptive real estate portfolio and a strong commitment to environmental sustainability.
Colin King, Global Real Estate Director at Nokia, said: “CBRE has demonstrated a clear commitment to collaboration throughout this process; we are very excited about our new partnership and working together to leverage dynamic real estate market conditions over the next number of years. Our business needs innovative business solutions, consistent high quality execution wherever we do business and this new business platform which we are building with CBRE shows that we can deliver that wherever we operate."
Matt Pullen, Head of CBRE Global Corporate Services, EMEA, said: “We are absolutely thrilled to have the opportunity to partner with Nokia and support the development and delivery of the next generation of their corporate real estate strategy. Ensuring agile integration between a flexible real estate strategy and dynamic field execution will be paramount to success in the coming years. We believe Nokia’s approach to real estate will continue to set industry benchmarks through the unique integration of collaboration, innovation and customer engagement.”
5 March 2009
