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Prudential CRES Readies for Rapid Expansion

SAN FRANCISCO-Prudential Commercial Real Estate Solutions began its entry into the Bay Area when it acquired and franchised Belvedere Associates, Inc. in January. Now it plans to rapidly expand throughout the region.

By Michelle Savage | Updated on July 30, 2002

SAN FRANCISCO-Prudential Commercial Real Estate Solutions (CRES) plans to enter the San Francisco Bay Area commercial real estate market with a bang, opening about seven offices with a total of 150 employees throughout the Bay Area.

In January, Prudential CRES entered the San Francisco market when it franchised its Prudential-CRES banner to Belvedere Associates Inc., an independent brokerage. The company paid a franchise fee and agreed to pay monthly fees ranging from 3% to 4.5% of gross revenues. Prudential provides funding to upgrade their information systems.

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