Business Services Industry
Mergers challenge brokers; Expanding firms chase talent; affiliations are growing.
Crain's Detroit Business, February, 2007 by Smith, Jennette
Byline: Jennette Smith If only local office space was moving as fast as local brokers. Mergers and expansions by national commercial real estate brokerages have translated into stepped-up efforts by local firms to recruit and retain top talent. The December acquisition of Dallas-based Trammell Crow Co.
by Los Angeles-based CB Richard Ellis is translating into a much bigger CB office here. Mike Gerard, managing director for CB in Southfield, said the acquisition of Trammell Crow brings with it new clients like Lear Corp., Comerica Inc. and Ford Land. And CB has boosted the number of local brokers from 17 in 2005 to 54. Total local employee count is close to 400 because of other lines of business such as property management, move management, appraisal and...
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