Downtown L.A. commercial real estate giant CBRE Group Inc. has purchased the Global Workplace Solutions unit of Milwaukee’s Johnson Controls Inc. for $1.475 billion. The business unit provides facilities management and energy efficiency services to corporate clients.

Under the agreement, the Global Workplace Solutions division will become part of CBRE’s Global Corporate Services group.

The agreement includes a 10-year partnership in which CBRE’s corporate real estate services will be at Johnson Controls’ disposal, and, in turn, Johnson Controls will become the preferred provider of HVAC units and building automation systems for facilities managed by CBRE.

Both companies will also share in funding an innovation lab whose target is to find lower-cost energy management solutions.

Bob Sulentic, CBRE’s chief executive, called the Johnson Controls unit a natural fit.

“The exceptionally talented GWS team will greatly enhance our service offering for occupiers around the world,” Sulentic said in a statement. “With GWS, we further our ability to create advantages for occupier clients by aligning every aspect of how they lease, own, use and operate real estate to enhance their competitive position.”

When the deal is done, Johnson Controls’ GWS President John Murphy will become CBRE’s global chief operating officer. According to the company, the agreement is expected to add $500 million to Johnson Controls’ annual revenue.

CBRE shares were up following Tuesday’s announcement. Shares closed at $38.75, up 6 percent on the day. Johnson Controls’ shares rose 1 percent to $50.44.