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4-Traders Homepage  >  Equities  >  Nyse  >  CBRE Group Inc    CBG

Delayed Quote. Delayed  - 07/22 10:02:12 pm
28.99 USD   +1.54%
07/23 GENERAL ELECTRI : GE 'very pleased' with redevelopment proposals for..
07/22 CBRE : 21 Lewis Plaza building sold
07/21 CBRE : appoints Anshuman Magazine as Chairman of India, South East A..
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General Electric : GE 'very pleased' with redevelopment proposals for Fort Wayne campus

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07/23/2016 | 05:37pm CEST

July 23--Several credible proposals for redeveloping all or part of General Electric Co.'s old Fort Wayne campus were received by the July 13 deadline, and the company will examine them and work with the community to determine whether any are "actionable," according to a GE spokesman.

"We received about four proposals, and we were very pleased," GE's Matt Conkrite. He declined to identify the interested firms or the type of developments they proposed, but the company previously scheduled presentations from interested parties for Aug. 11, with a final selection round later that month with the identification of a preferred developer expected in September. That schedule appears to be on track, Conkrite said,

The company listed the 31-acre site for sale with CBRE of Indianapolis in May. Parts of the campus date to the ate 1800s, and more than 10,000 people once worked there. But the last 90 jobs were eliminated in 2014, and redevelopment could require the clean-up of areas contaminated by decades of industrial activity.

Redevelopment of the site was included in Northeast Indiana's list of potential projects competing for $42 million in "Regional Cities" funds, but turning campus into housing could cost $165 million, the application estimated. Greater Fort Wayne Inc., which has sponsored public meetings to solicit redevelopment, has placed the cost at $250 million. Buildings on the campus contain about 1.2 million square feet of space.

CBRE's listing suggests the site could also be used for offices, shops, restaurants, and other activity.

___

(c)2016 The News-Sentinel (Fort Wayne, Ind.)

Visit The News-Sentinel (Fort Wayne, Ind.) at www.news-sentinel.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2016 13 284 M
EBIT 2016 1 123 M
Net income 2016 709 M
Debt 2016 1 985 M
Yield 2016 -
P/E ratio 2016 14,16
P/E ratio 2017 13,25
EV / Sales 2016 0,88x
EV / Sales 2017 0,74x
Capitalization 9 724 M
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CBRE Group Inc Technical Analysis Chart | CBG | US12504L1098 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 35,0 $
Spread / Average Target 21%
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Managers
NameTitle
Robert E. Sulentic President, Chief Executive Officer & Director
Raymond E. Wirta Independent Chairman
Michael J. Lafitte Chief Operating Officer
James R. Groch CFO & Global Director-Corporate Development
Mandy Edwards Chief Information Officer
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