CBRE 2Q17 Earnings Call Notes

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Bob Sulentic – President and Chief Executive Officer

Leasing market lighter than we expected

“Even though the economy is generally doing nicely, there is a couple of things going on. In general, corporations are being very careful about costs. We are doing it and so are the other big corporations around the U.S. and around the world. And secondly, in a few markets, there have been limited circumstances where leases would have otherwise gotten done, but there was inadequate big blocks of space to get them done and so that’s had a bit of an impact. But I would say it’s just a slight turn back from where we thought it was when we last reported.”

In general the market is solid

“We are – in general, the market is solid. Investors are very interested in commercial real estate around the world and there is a lot of capital. We are not expecting a material change in activity in the second half of the year. The first half of the year was okay. We expect the second half of the year to be okay and that’s kind of what our guidance suggests in our commentary on where we think the sales activity to be for the year.”