East Meets West as CBC Advisors, CBC Alliance Merge
- Aug 04, 2016
Salt Lake City and Miami—The number one and number two Coldwell Banker Commercial organizations, respectively Coldwell Banker Commercial Advisors, based in Salt Lake City, and Coldwell Banker Commercial Alliance of Miami, have merged, the companies announced Tuesday. The combined entity, with 30 offices in 10 states, 500 professional-level personnel (including 310 brokers) and annual transaction volume topping $3.7 billion, reportedly comprises the world’s largest commercial real estate franchise operation.
The combined company retains the CBC Advisors name, and the 10 former CBC Alliance offices will transition to that platform effective immediately. Individual offices are owned by their local managing principals and CBC Advisors, whose headquarters remain in Salt Lake City, a CBC Advisors spokesperson told Commercial Property Executive.
Both entities ran flagship offices in their respective operational regions and both reportedly “share an aggressive entrepreneurial culture built on a broker-centric delivery model.”
“From a customer service point of view, this merger allows for significant increases to platform, resources and footprint,” Jim McCoy, the Miami location’s managing principal and a former two-term Miami–Dade County mayor, said in a prepared statement. “For our brokers and team, the merger allows for us to maintain our quick and nimble entrepreneurial culture without the bureaucracy and limitations you’d typically find in larger firms.”
The merged company now operates brokerage and/or asset services offices in Anchorage, Alaska; Flagstaff and Phoenix (Chandler and Scottsdale), Ariz.; Irvine, Los Angeles (West LA, downtown LA, Glendale and Woodland Hills), Newark, Oakland, Sacramento, San Diego, San Jose and Temecula, Calif.; Miami; Denver; Boise, Idaho Falls and Pocatello, Idaho; Las Vegas and Reno/Sparks, Nev.; New York; Dallas, Fort Worth and Houston; and Salt Lake City (downtown and Millrock), Provo/American Fork and St. George, Utah.
In the announcement, CBC Advisors CEO Lew Cramer, emphasized the potential for expansion in the Miami/South Florida market.