CB Richard Ellis Shares Lose Nearly 10%

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Shares in CB Richard Ellis Group Inc. closed down 9.3 percent Wednesday after analysts suggested commercial real estate was set to decrease in value.


This is the second-straight day of steep declines for the El Segundo-based company, which is the largest real estate broker in the world.


Morgan Stanley analysts Matthew Ostrowe said that commercial real estate prices may fall as much as 15 percent over the next year marking the steepest decline on more than six years.


Shares in CBRE have lost 13 percent over the past two weeks, dropping $2.80 in trading Wednesday on the New York Stock Exchange.

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