Colliers units merge to boost services as rivals expand

August 14, 2008
Colliers units merge to boost services as rivals expand

(NEW YORK) Commercial real estate broker Colliers ABR is combining
with three affiliates to expand its services as rivals grow through
acquisitions.

Formerly independent Colliers offices in Washington, Baltimore and St
Louis will join forces with the New York firm, the companies said in
a news release issued on Tuesday.

The consolidation will create the largest independent commercial
property brokerage in the United States, Colliers ABR Chairman Mark
Boisi said in an interview. It will make Colliers ABR into a stronger
competitor in New York, and strengthen the Colliers International
brand globally, he said.

Commercial brokers are joining forces to expand their tenant
representation business as commissions from property sales may
decline in the credit crisis. Jones Lang LaSalle Inc, the world's
second-largest commercial real estate broker, agreed to buy the
Staubach Co for US$613 million in June.

'This will allow us to supercharge our platform in New York and
provide us with the opportunity to offer a greater breadth of
services,' Mr Boisi said, particularly in the areas of corporate real
estate account services and investment capital formation.

Washington-based Cassidy & Pinkard Colliers, Baltimore-based Colliers
Pinkard, and St Louis-based Colliers Turley Martin Tucker will join
with Colliers ABR. All four companies are members of Colliers
International, a worldwide alliance of independently owned and
operated real estate service firms.