CBRE-NE and Grossman Form New Entity

CB Richard Ellis/New England and Grossman Commercial Real Estate Group, Inc. Announce Formation of CBRE/Grossman Retail Advisors

BOSTON (Oct. 7, 2009) — CB Richard Ellis/New England (CBRE/NE) and Grossman Commercial Real Estate Group are pleased to announce the formation of CBRE/Grossman Retail Advisors, a full-service retail real estate advisory firm dedicated to providing best-of-class retail services including leasing, property and, asset management, and development consulting to retail owners and tenants throughout the New England region. The new entity is a joint venture between CBRE/NE and GCREG, Inc. Howard D. Grossman, a 35-year retail real estate veteran, will serve as President/Managing Principal of the new venture and was most recently a Principal at Samuels & Associates, a leading New England real estate developer based in Boston. Grossman has managed real estate departments for FOTOMAT Corp., CVS Drug Stores, Melville Corporation and Marshall Stores and was also previously affiliated with national real estate consulting firm Katz and Associates.

CB Richard Ellis New England is a joint venture between CB Richard Ellis Group, Inc and the principals of CBRE/NE.

“Our goal is to create the best retail platform in New England to service our valued clients,” said Grossman, who began his retail career in 1974. “We believe that the combination of CBRE’s dominant international platform and leading US retail capability, our local market expertise and our experience as both owners and service providers will redefine the level and quality of service offered to our clients. Given the uncertainty in the marketplace and our clients’ need for information, strategic advice, and certainty of execution, there could not be a better time than now to launch this new venture.”

Howard Grossman will be joined by Senior Vice President and Principal Jeremy Grossman, who began his career in commercial real estate in 1997. Most recently Jeremy served as Director of Leasing in New England for Federal Realty Investment Trust where he was responsible for the merchandising and leasing strategies for Federal Realty’s New England assets including high-profile properties such as Linden Square in Wellesley and Assembly Square in Somerville. Additional members of the CBRE/Grossman Team include: Senior Vice President and Principal Kyle Juszcyszyn, a former 13-year veteran of Samuels & Associates, who will be responsible for retail asset management on behalf of private owners, banks and institutional owners; Vice President of Property Management Paul Connolly, formerly of Fidelity and Federal Realty; and Senior Leasing Associate Paul Grossman, formerly of Strategic Retail Advisors.

“We’ve been looking for the right opportunity to meaningfully expand our retail capability for years,” said Andy Hoar, President and Co-Managing Partner of CBRE/New England. “Howard and his team will make an immediate impact on the retail landscape and we look forward to growing this new business into the market-leading retail services company in New England.”