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

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CBRE : Financial advisory firm to relocate to M&T Bank building

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06/24/2017 | 12:03am CEST

June 23--A financial advisory firm plans to relocate its Harrisburg office, but the move to the M&T Bank building at 213 Market St. where it will lease 63,133 square feet of space, won't be too far away from its current location at the Keystone Plaza at 100 Market St.

PFM Asset Management will occupy floors three through six as well as the 14th floor. More than 150 PFM employees are expected to move into its new location by the end of the year. The company has been at its current location for more than 20 years.

The M&T Bank building was built in 1989 and is currently undergoing renovations. Jeremy Shyk of CBRE negotiated on behalf of the tenant, PFM Asset Management in the real estate transaction. The CBRE Project Management team has been hired to oversee all of the logistics of the construction and the relocation, CBRE announced in a press release.

PFM Asset Management offers financial advisory services, asset management and consultation, and serves local, state, and regional governments, non-profit, and other institutional clients. The company opened its first office in Philadelphia in 1975. The company has offices throughout the United States including three offices in Pennsylvania.

--Business Buzz

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(c)2017 The Patriot-News (Harrisburg, Pa.)

Visit The Patriot-News (Harrisburg, Pa.) at www.pennlive.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2017 13 961 M
EBIT 2017 1 140 M
Net income 2017 726 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 16,40
P/E ratio 2018 14,65
EV / Sales 2017 0,86x
EV / Sales 2018 0,83x
Capitalization 11 944 M
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Average target price 38,7 $
Spread / Average Target 9,4%
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Robert E. Sulentic President, Chief Executive Officer & Director
Raymond E. Wirta Independent Chairman
James R. Groch CFO & Global Director-Corporate Development
Chandra Dhandapani Chief Digital & Technology Officer
Bradford M. Freeman Independent Director
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