CB Richard Ellis Adding 125 Local Accounting Jobs

The company decided earlier this year to consolidate its three client-accounting services offices to two; that decision, combined with organic growth, has led to 125 additional jobs in the firm's Bloomington office.

CB Richard Ellis is expanding its client-accounting services department in Bloomington with the addition of 125 jobs.

The additional positions are the result of a combination of organic growth and the company's decision to consolidate its client-accounting services operations, which together employ about 800.

According to Robert McGrath, senior director of corporate communications at CB Richard Ellis, the commercial real estate giant decided earlier this year to phase out client-accounting services at its Dallas office and consolidate the work at its two other client-accounting hubs in Bloomington and Memphis, Tennessee.

McGrath said that employees at the Dallas hub have been offered the option to relocate to one of the other two hubs or work in other departments at CB Richard Ellis. So far, about two dozen employees have taken positions elsewhere in the company, but the office will remain open until the end of the year, according to McGrath.

Despite the consolidation, the company's Dallas operations are growing, especially in the IT and human resources departments. McGrath said the company added about 90 positions there last year and now employs more than 1,700 in Dallas.

Patty Proshek, senior managing director for client-accounting services at CB Richard Ellis, told Twin Cities Business that about 70 percent of the 125 positions have been filled. She said that the company expects to fill the remaining positions by the end of July.

McGrath said that the growth in the company's client-accounting services department has been mostly organic, with the exception of the 2006 acquisition of Trammell Crow Company, which doubled the size of the division. The company is not only taking on new clients, but existing clients are tapping CB Richard Ellis to do their accounting in addition to other real estate services.

To house the additional employees, McGrath said that CB Richard Ellis has leased an additional 30,000 square feet at its Bloomington office.

CB Richard Ellis is the state's largest commercial brokerage firm with 110 licensed Minnesota brokers as of June 2010. The firm is also among the state's largest commercial property managers with about 12.6 million square feet of gross leasable space managed in Minnesota.

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