LOS ANGELES-CBRE Group has acquired the Whitestone Research Corp., a leading facilities-cost analytics firm based in Santa Barbara, CA. The acquisition will enhance the data-driven and analytical aspects of CBRE's research, advisory and operational services.

We are in the business of helping our clients manager their facilities and assets as intelligently as possible, and part of that is bringing new expertise in facility cost modeling, analytics, benchmarking to help them do that more effectively,” Karen Ellzey, executive managing director of CBRE Global Services Group, tells GlobeSt.com. “All-in-all, this lets us bring in a more data-driven approach to the way we advise our clients and support them in meeting their goals.” This includes maximizing investments, reducing expenses and ensure assets are operating efficiently.

The acquisition was a strategic plan to augment the company's data and analytical capabilities. “There are a lot of benefits to bringing more data and analytics to the business, and using that to help advise our clients,” says Ellzey. “This is a more fact-based approach.” Whitestone uses cloud and server-based software tools and statistical evidence to generate facilities cost guides for single assets to as well as larger portfolios. The company has an online analytics tool called CostLab, which can forecast facility operating and maintenance costs and compares a wide range of service costs from pest control to security.