Whitestone Research Corp., a Santa Barbara, Calif.-based provider of facilities-related cost analytics tools and services, has been acquired by CBRE Group Inc.
Whitestone provides cloud and server-based software tools and statistical indices that model, forecast, and benchmark facilities costs for single properties and global real estate portfolios. The company’s online cost analytics tool, Costlab, forecasts operating and maintenance costs, providing detailed cost comparisons for maintenance and repair, custodial, energy, grounds management, pest control, refuse removal, road clearance, security, telecommunications, and water and sewer functions.
“By acquiring Whitestone, CBRE significantly enhances its facilities cost analytics expertise, complementing its position as a recognized global leader in rent and labor cost analysis,” the company said. CBRE manages more than $32 billion in operating expenses for client facilities. Source: businesswire.com