CBRE Tampa Releases Q2 Marketview Reports

TAMPA, FL--The Tampa office of CB Richard Ellis Group Inc. has released second-quarter market reports on the Tampa Bay office and industrial markets and the Polk County industrial market.


For copies of the complete reports, please contact Lauren Crawford at lauren.crawford@cbre.com.

Tampa Bay Office Highlights:
·
· Over one million sq. ft. of new Class A office space will be delivered to the Tampa Bay market in the next 12 months.
· The overall vacancy rate ticked up 0.3% over the first quarter 2008 to 15%--the highest since fourth quarter 2008.
· Buschwood I & II was purchased by Eola

Tampa Bay Industrial

· The [industrial] economy remains fairly strong, the biggest challenge is battling the perception that it's not.
· Over one millions sq. ft. of industrial space is actively under construction.
· Answering to the rise in vacancy rates, average asking lease rates decreased slightly to $6.65 per sq. ft. (down $0.50 over the quarter.)

Polk Industrial

· Of the six properties under construction (902,000 sq. ft.), 46% is pre-leased..
· Year-to-date, the Polk County industrial market has experienced over one million sq. ft. of positive net absorption.
· Swiss fragrance company, Firmenich, announced it will expand its Lakeland operations with a new 12,000-sq.-ft. bldg.

CB Richard Ellis Group Inc. Named A BusinessWeek 50 Best Performer for Second Straight Year

Orlando, FL - CB Richard Ellis Group, Inc. has been named to the BusinessWeek 50-that publication's list of best performers across all industries-for the second straight year.

BusinessWeek selects 50 best-in-class companies that the magazine says represent the star performers in each of the ten sectors that make up the S&P 500. CBRE was ranked #11 on the 2008 BusinessWeek 50, up from 16th place last year.

"Being recognized once again as a BusinessWeek 50 company reflects our tireless focus on excellence in client service," said Bill Moss, (top right photo) Senior Managing Director for Florida. "Every day, across the state of Florida, CBRE professionals come to work with one overriding goal-using the industry's most powerful full-service platform to tailor the best solutions to satisfy our clients' needs."

CB Richard Ellis represents 88 of the FORTUNE 100 companies and offers an unrivaled suite of commercial real estate services on a global basis. The company was responsible for more than $264 billion of property sales and lease transactions in 2007, and managed more than 1.9 billion sq. ft. (including those managed by affiliates) of commercial properties and corporate facilities as of December 31, 2007.

Companies were chosen for inclusion in the BusinessWeek 50 list, published in the issue dated April 7, 2008, based on key financial metrics including return on investment and sales growth along with such attributes as "management vision" that BusinessWeek cites as essential for performance success.

CONTACTS:

Bill Moss

bill.moss@cbre.com

407 839 3140

Jessica Wilhoite

jessica.wilhoite@cbre.com

407 839 3158