CBRE navigates the volatile commercial real estate landscape. Past performance from 2006-2008 showed global revenue peaking and then flattening in 2008 due to the global credit crunch. Current performance in 2009 saw the lowest operating income in 4 years due to illiquid credit markets. Emerging opportunities exist in potential European retail expansion, pharmaceutical sale-leasebacks, and resilient Asian Pacific markets. CBRE can capitalize on these by securing long-term leases, researching sale-leaseback opportunities, and focusing on China and India. The 18-24 month forecast anticipates a gradual increase in revenue as stimulus ends and credit markets improve.