E-Business Alliance of CB Richard Ellis, Jones Lang LaSalle and Trammell Crow Company Partner with SiteStuff.com
The commercial real estate e-business alliance of CB Richard Ellis (NYSE: CBG), Jones Lang LaSalle Incorporated (NYSE: JLL) and Trammell Crow Company (NYSE: TCC) will announce that the three companies collectively
have partnered with SiteStuff.com, Inc. as their primary web-based procurement solution. The partnership includes a combined $30 million investment by the alliance companies as part of a preferred stock financing for SiteStuff, the premier e-marketplace for owners and
operators of commercial and multi-family real estate properties. Through SiteStuff, the alliance partners will purchase property management maintenance, repair and operations (MRO) products and services for the benefit of clients in the U.S., a procurement potential that represents approximately $15 billion over a three-year period.
During a media conference call briefing, the speakers will discuss the alliance's selection of SiteStuff and the rationale behind the $30 million investment. They will highlight their plans for creating an industry-leading e-procurement platform and how their
web-based strategies will set the industry standard for enhanced real estate service delivery. They will also explain how the partnership works to deliver long-term client value through dramatic cost savings and improved operational efficiencies for each company.
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