Shute to Lead CBRE’s Hong Kong Office

Shute did not respond to a request for comment. Local industry sources say he’s leaving for the opportunity have more responsibility and be part of the explosive growth in China, where CBRE has 15 offices. While transactional data for the Hong Kong office alone was not available, CBRE’s Asia-Pacific region’s 2007 activity totaled $20.3 billion in 2007, with the Hong Kong office providing a significant piece of the total. “Hong Kong is a major international business center,” says one industry source who requested anonymity. “It’s definitely a big step for Shute.” There has been movement among Las Vegas managing directors as of late. Prior to Shute’s announcement, one of the co-founders of NAI Horizon’s local office left the company in April to start his own firm. Phoenix-based NAI Horizon then shut down operations in Las Vegas... [read full story]