CBRE Reports First Major Financial Hit for Brokerage Industry From Pandemic

Higher Costs, Lower Income From Transactions Mar Second-Quarter Results

The effects of the pandemic cut into CBRE's sales and leasing revenue for the second quarter. (Getty Images)
The effects of the pandemic cut into CBRE's sales and leasing revenue for the second quarter. (Getty Images)

The world’s largest commercial real estate brokerage and services company is providing the first look at the heavy financial toll the coronavirus is wreaking on the industry, reporting more than $40 million in second-quarter costs related to the pandemic that has cut deal activity as it disrupts the global economy.

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