The nation’s two largest Coldwell Banker Commercial affiliates have merged to establish a national platform and “revitalize” the brand.
Coldwell Banker Commercial Advisors (CBC Advisors) acquired all Coldwell Banker Commercial Alliance (CBC Alliance) office locations and assets, giving them a foothold in seven markets, including New York.
Lew Cramer, president and CEO of CBC Advisors told Real Estate Weekly, “We have a culture of agent-centric services and broker-oriented leadership which will make it easier for anybody that works with us to get the tools that they need.”
“We also believe that scale and scope is pretty critical in the world today to serve some of the bigger clients.”
The acquisition follows CBC Advisors’ strategy to establish a national platform in primary and dynamic secondary markets across the United States.
Recognized as the fastest growing mid-sized commercial real estate brokerage in the nation, CBC Advisors has quadrupled in size within the last three years.
All 10 CBC Alliance offices in first tier markets throughout New York, California, Texas, Florida, and Colorado will begin servicing clients under the CBC Advisors brand.
Peter Sabesan and Richard Selig launched the CBC Alliance office in New York City in 2012. Nationally, CBC Advisors has over 450 professionals in 27 offices.
“This historic acquisition and resulting expansion create a powerful national footprint, restoring the most respected brand in commercial real estate,” said Brandon Fugal, chairman of CBC Advisors.
The official change won’t alter branches’ day-to-day operations. Lew said the leadership at local offices will be unchanged.