Latest news with #CBRE
Yahoo
an hour ago
- Business
- Yahoo
The Top 5 Analyst Questions From CBRE's Q1 Earnings Call
CBRE's first quarter results for 2025 reflected broad-based growth across its core business lines, with particular strength in U.S. leasing and capital markets. Management attributed this performance to increased activity in office and industrial leasing, as well as rising transaction volumes in multifamily and industrial asset sales. CEO Bob Sulentic highlighted the company's 'strong business pipelines and improved operational leverage,' while CFO Emma Giamartino pointed to the benefits of recent cost efficiency initiatives, especially in facilities and property management. The quarter's results were also shaped by the recent integration of new business segments and strategic acquisitions, which contributed to both top- and bottom-line improvements. Is now the time to buy CBRE? Find out in our full research report (it's free). Revenue: $8.91 billion vs analyst estimates of $8.86 billion (12.3% year-on-year growth, 0.5% beat) Adjusted EPS: $0.86 vs analyst estimates of $0.77 (11.2% beat) Adjusted EBITDA: $540 million vs analyst estimates of $503.4 million (6.1% margin, 7.3% beat) Operating Margin: 3.1%, in line with the same quarter last year Market Capitalization: $39.19 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Anthony Paolone (JPMorgan) asked about recent shifts in the business pipeline due to tariffs. CEO Bob Sulentic explained that activity remains strong but has moderated, especially in capital raising and some large project management mandates. Julien Blouin (Goldman Sachs) questioned how resilient earnings would be in a recession. CFO Emma Giamartino responded that the mix of recurring profit is now much higher than in previous downturns, reducing earnings volatility. Ronald Kamdem (Morgan Stanley) inquired about margin improvement in project management and the tools available to protect them. Giamartino pointed to anticipated cost synergies from business integration and a target of mid- to high-teen margins over time. Stephen Sheldon (William Blair) asked about the sustainability of industrial leasing growth given tariff uncertainty. Sulentic noted that while growth may moderate, demand from third-party logistics providers (3PLs) is expected to keep activity stable. Peter Abramowitz (Jefferies) sought clarification on interest rate sensitivity for capital markets activity. Giamartino indicated that transaction activity should remain steady as long as rates stay below 5% and remain stable. Over the coming quarters, the StockStory team will monitor (1) the pace of leasing and capital markets activity in the U.S. and internationally, (2) progress on integrating recent acquisitions and realizing cost synergies, and (3) the resilience of recurring revenue streams amid tariff and macroeconomic uncertainty. We will also watch for updates on new project management mandates and the impact of interest rate trends on transaction volumes. CBRE currently trades at $133.49, up from $121.96 just before the earnings. Is the company at an inflection point that warrants a buy or sell? Find out in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Journals
3 hours ago
- Business
- Business Journals
Cherry Creek's example: What Denver can learn from its most resilient office submarket — Table of Experts
Denver's office market remains in flux — with metro vacancy now at 26.8%, according to CBRE's first quarter report — but in Cherry Creek, optimism is easier to come by. New buildings are leasing up, old landmarks are coming down and top developers are betting big on continued demand. But what can this submarket's resilience teach us about the rest of the city? That was the backdrop for a recent Denver Business Journal Publisher's Dinner, held at Toro Latin Kitchen & Lounge in Cherry Creek and presented by FirstBank. A group of local commercial real estate leaders gathered for an intimate conversation about downtown recovery, the role of government and how Cherry Creek might serve as a model — or at least a contrast — to other parts of the metro area. In attendance were Ferd Belz, president, LC Fulenwider; Keith Dennis, president and publisher, DBJ; Rhys Duggan, president and CEO, Revesco; Aubrey Ebbs, president Cherry Creek market, FirstBank; Brad Farber, principal, Elevation Development Group; Dan Huml, managing partner, Magnetic Capital; Derek Longwell, market president Downtown Denver, FirstBank; Evan Makovsky, managing partner, Shames Makovsky; Jessica Ostermick, market leader, CBRE; Marc Perusse, founder and CEO, E2M Ventures; and James Roupp, managing director, JLL. One clear theme emerged: While Cherry Creek pushes ahead, the broader market faces headwinds: some cyclical, others structural. 'In Cherry Creek, we're seeing demand change now more than ever with tenants looking for north of 20,000 square feet in office space,' said Dan Huml, founder and managing partner of Magnetic Capital. 'We're also seeing diversification. It used to be just financial, professional services and real estate. Now we're seeing tech for the first time, oil and gas, educational services. The big question is: How do you get employees into the office? And that's the beauty of Cherry Creek — the neighborhood, the amenities, you can walk to your favorite restaurant. It's going to be full and active all day, and that's the kind of environment you want your employees coming into every day versus downtown that can feel unsafe and empty.' Downtown Denver, in particular, continues to lag. CBRE's data pegs the submarket's total vacancy at 35.3%, with Class B buildings reaching nearly 40% vacant. But panelists noted there's still activity. The Colorado Department of Labor and Employment recently leased 131,000 square feet at 707 17th St., and Class A assets downtown posted positive net absorption for just the second time in three quarters. Still, employees are ultimately calling the shots when it comes to the location a company calls home, JLL Managing Director Jamie Roupp said. He pointed to the 16th Street Mall's multiyear closure as well as downtown's relatively aging buildings as potential turnoffs for employees looking for vibrant, activated office neighborhoods. 'The power has shifted,' Roupp said. Projects like Cherry Lane in Cherry Creek — the redevelopment of the former Sears site led by BMC Investments, Prism Places and Invesco — are reshaping the neighborhood. That project will bring 379 apartments, 59,000 square feet of office and 133,000 square feet of retail, with developers already claiming interest from luxury tenants found on Fifth Avenue and Rodeo Drive. CBRE's first-quarter figures back up that enthusiasm. The Cherry Creek submarket has the lowest office vacancy in the city at just 8.3%, and more than 220,000 square feet of office is currently under construction. The average asking rent is $35.49 per square foot, which is below downtown's $41.57 going rate, but trending upward. Still, attendees acknowledged the Cherry Creek formula isn't easily replicated elsewhere. The submarket's density, walkability and wealth — not to mention its private business improvement district — make it an outlier. Downtown gets an unfair rap, some said, and it's up to developers to change that narrative. 'We have to work on changing that perception that downtown isn't safe,' said Brad Farber, principal at Elevation Development Group. 'Restaurants are open again, there is vibrancy. It's not going to be easy by any means, but we need to help people see the value in moving downtown.' Several experts said Denver needs to rethink its approach to housing, especially downtown. The state's construction-defects rules resurfaced, with multiple developers pointing to liability costs and insurance barriers as reasons why condos remain rare. Gov. Jared Polis just signed House Bill 25-1272, which was designed to encourage condo construction. Shames Makovsky Managing Partner Evan Makovsky described a recent visit to Austin, Texas, where he was struck by how many young families now live downtown. 'At about 6:00 in the evening, suddenly there are people with strollers, families, young couples, bicycles. You can't walk on the streets, they are so packed. They are living in condos. We don't have condos because of the current legal landscape,' Makovsky said, noting that Austin's cost of living isn't 'cheap.' 'Getting more people living downtown here in Denver, like in Austin, will be a major driver,' Makovsky said 'We have to create those opportunities. That, in and of itself, is what will drive growth in both office and retail.' 'That's the difference,' he said. 'They've built a lifestyle product that's affordable enough and attractive enough for people to actually live there.' Makovsky told a story from the 2008 financial crisis and recalled advice from the late banker, Don Sturm: 'No matter what, there will always be a tomorrow. The question is whether you're prepared for it.' His message? The business community can't sit on the sidelines — not now. It was a call not just to engage, but to lead — in Cherry Creek, in downtown and across Denver's evolving urban core.
CTV News
11 hours ago
- Business
- CTV News
New development to reshape east Windsor: Is Costco coming?
Heavy construction equipment is seen at the site of a large box store commercial development in east Windsor. June 19, 2025. (Chris Campbell/CTV News Windsor) A development in east Windsor is being called the, 'catalyst that's going to reshape the entire neighbourhood.' That's according to Brook Handysides, senior vice president and sales representative with real estate company CBRE, which has announced that a deal to assemble the land and develop the infrastructure needed for a major box store commercial development in the east end has been finalized. Handysides points to the project benefitting over a dozen vacant parcels of land in the area. 'Ultimately, how that ends up getting developed over time, it will mature effectively as this first development takes off,' he said. 'It's just going to be positive things for the East Windsor area and the Tecumseh-Lauzon retail corridor. CBRE Windsor, on behalf of Rock Developments, worked for two years to bring together the deal on a 33-acre piece of property north of Tecumseh Road East and west of Catherine Street, just off Lauzon Parkway, behind the east-end Walmart and Home Depot. While it has yet to be confirmed exactly what the development will be, the conceptual drawing presented to the city shows it will include the colour 'Costco Red.' In early February, city council approved over $19.6-million in funding to support land acquisition costs and infrastructure upgrades to service the project, including road work and storm and sanitary sewer additions, while the developer will contribute almost $10.7 million to the work. The Forest Glade North Secondary Plan Area has identified the need for two new north-south collector roads to service the area north of Tecumseh Road, between Jefferson Boulevard and Lauzon Parkway. The collector roads would extend from Tecumseh Road (Roseville Gardens Drive) and include the future westerly extension of Catherine Street, work that is also expected to open access to several other vacant lots near the east-end Walmart and RONA for future development. east windsor - development - june 2025 Heavy construction equipment is seen at the site of a large box store commercial development in east Windsor. June 19, 2025. (Chris Campbell/CTV News Windsor) Handysides said this will ultimately connect the whole grid together and allow for enhanced vehicular access. 'Lands that are effectively dormant to development until now, with them being unlocked with the services and road construction that will happen in this area to ultimately accommodate this end user,' he added. According to Handysides, the area already has a significant retail footprint within this zone, including Tecumseh Mall, combined with residential densification around Lauzon and McHugh Street. 'Retail likes to see rooftops, and when you see more residents moving into the area and you have the road infrastructure to accommodate it, it just makes it right for continued densification. That's ultimately why I think this deal came together,' he said. The development calls for commercial uses that will include retail, a gas station, and restaurants, with the gas pumps expected to be part of Phase 1. The plan also calls for approximately 25,000 square meters of floor space and just under 1,400 parking spots. Windsor already has a Costco located at 4411 Walker Rd., not far from Provincial Road. — Rusty Thomson/AM800 News
Scotsman
16 hours ago
- Business
- Scotsman
‘Flagship' TK Maxx building in heart of Scottish city centre on sale for £15 million
'This is a rare opportunity to acquire one of Glasgow's most prominent high street retail assets' – Andrew Shiells, CBRE Sign up to our Scotsman Money newsletter, covering all you need to know to help manage your money. Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Clothing retail giant TK Maxx's home on one of Scotland's busiest shopping thoroughfares has been put up for sale. Located at 36-48 Argyle Street in Glasgow the fully let property, described as a 'flagship retail and office investment opportunity', comprises more than 82,000 square feet across basement, ground and three upper floors. It is anchored by TK Maxx. Advertisement Hide Ad Advertisement Hide Ad Property advisor CBRE, which has been appointed by HIH Real Estate to bring the building to market, is looking for offers in excess of £15 million. The building at 36-48 Argyle Street in Glasgow is anchored by TK Maxx. CBRE noted: 'Prominently positioned on the pedestrianised section of Argyle Street, directly opposite the St Enoch Centre, the asset represents one of the best located, large format retail units in one of the UK's busiest retail destinations.' It said TK Maxx had committed to a £1.2m refurbishment programme, reaffirming its long-term presence. Health food chain Holland & Barrett has committed to lease a second ground floor unit on a ten-year term from September 2025, contributing further to the building's 'strong tenant profile and future potential', property experts added. Andrew Shiells, senior director at CBRE Scotland, said: 'This is a rare opportunity to acquire one of Glasgow's most prominent high street retail assets. With excellent visibility, strong tenant covenants, and clear value underpinned by ongoing investment from occupiers, it represents a robust, long-term urban retail investment in a location that continues to evolve and strengthen.' Advertisement Hide Ad Advertisement Hide Ad The firm added: 'The surrounding area is undergoing significant regeneration as part of Glasgow City Council's 'Avenues' project, delivering improved public realm, active travel infrastructure and enhanced connectivity throughout the city core.
Extra.ie
2 days ago
- Business
- Extra.ie
What can you buy with quarter of a billion euro
The owner of the winning Euromillions ticket is still keeping the everyone guessing, as the nation holds its breath to see if someone we know, or even better, are related to, is the lucky holder of the winning Euromillions ticket, worth 250 million euro. Speculation is rife as to who bought the ticket, and when are they going to come forward to claim their eye watering prize. But the huge amount of the win has everyone thinking and talking about what would YOU do, and what could you buy with a quarter of a BILLION quid and where would you even start to process the fact that your bank account actually holds that amount of cash. Pic: Frank333/Shutterstock Well, how about your own Private Tropical Island or two, and there are plenty for sale all over the globe from the coast of Australia or the Bahamas for the tropical climates or further North to Scandinavia should constant sunshine not float your boat. A private Island getaway could set you back a few million, mere small change when your account balance is registering at a quarter of a BILLION. Pumpkin Island situated in the Southern Great Barrier Reef's Keppel Group of islands. Pic: CBRE Sports cars, Private Jets, Exclusive Mansions in very salubrious areas of the world are all within your grasp, and you will still have plenty left over to contemplate life as a multi-millionaire while you decide what to do with the rest of the dosh. Of course the big question is not only 'WHEN' will the winner arrive at Lotto Headquarters to claim their prize, but will they or won't they go public with the win. A customised Daimler AG Mercedes-Benz SL600 vehicle decorated with Swarovski crystals. Pic: Kiyoshi Ota/Bloomberg via Getty Images The prudent among us would say to keep quiet, say nothing, and that might be a safe bet considering the issues suddenly 'being loaded' can bring, not to mention the expectations of friends and family, who may or may not feel 'entitled' to a share of your winnings, based on family ties or friendship. Whatever the winner decides to do, the rest of us can pause for just a moment to daydream about how life could change with this amount of money in the bank. And then we will go back to the day job and wish the winner 'All the best' as they settle into life as Irelands latest Multimillionaire. No official announcement has been made yet by the National Lottery, but the lucky numbers were 13, 22, 23, 44, 49, with lucky star numbers of 3 and 5.
