U.S. Equities Realty, which counts the Willis Tower among the 17 million square feet it manages in Chicago, was acquired Wednesday by CBRE Group.
Los Angeles-based CBRE had revenue of $7.2 billion last year and led the Chicago market in leasing volume and commercial real estate sales, according to chicagobusiness.com.
U.S. Equities, based in Chicago, manages and leases 737 N. Michigan Ave. and 20 N. Michigan, among other properties. It also has completed deals with Winston & Strawn, IBM, Lurie Children’s Hospital, Nike, Verizon, and Crate & Barrel, according to a news release.
“CBRE’s global platform, along with its extensive service offering and broad expertise, will expand and enhance our ability to serve clients — in Chicago and around the world — and to provide additional growth opportunities for our professionals,”U.S. Equities Chairman and CEO Bob Wislow said in the release.
U.S. Equities says its 400 employees in Chicago will continue in the same capacities with the combined firm.
Wislow becomes chairman of CBRE Chicago, principals Camille Julmy and Nancy Pacher join as vice chairmen, and Katie Scott and Marty Stern become senior managing directors.
Financial terms of the deal weren’t disclosed.