In a statement issued this week, Trammell Crow tied the decision to a larger reorganization effort and a refocusing of efforts on bigger markets. The closure will affect seven local employees, although it's uncertain exactly when the office will shut down completely.

In February, Trammell Crow announced an internal reorganization of its business designed to consolidate all of the property and facility management, brokerage and project management services delivered to both corporate and institutional customers under a single leadership infrastructure. The reorganization is also designed to create a national organization focused solely on the company's development and investment activities.

As part of the restructuring, the company is undertaking an aggressive cost-cutting effort focusing on inefficiencies and redundancies. The goal of the cost-cutting effort will be to achieve an ultimate positive impact on earnings per share of 10 cents to 15 cents.