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CBRE Doubles Down in Columbus

COLUMBUS, OH-CB Richard Ellis acquires its biggest competitor in this market, boosting its staff and revenue by 50% and giving it dominate market share in both property management and listings--assuming it can hold onto key brokers affected by the merger.

By Brian K. Miller | Updated on October 04, 2005

COLUMBUS, OH-CB Richard Ellis Group Inc. had acquired its top competitor here in a deal that grows its revenue and staff by about half and gives it dominate market share in both property management and listings. The acquired company is Columbus Commercial Realty. The seller was Minneapolis-based Welshco LLC.

CBRE’s senior managing director in Columbus Rob Click tells GlobeSt.com that the deal adds 45 people (16 brokers) to CBRE’s existing staff of 80 (31 brokers). Assuming all the brokers stick around and continue to perform, the deal also will boost the company’s revenue by about 50%, he says. “We were number one in most business lines and they were number two,” he says.

Moreover, Click says the deal boosts its property management portfolio by more than half to 14.7 million sf and gives CBRE a 25% market share of lease listings (225 buildings) and a 20% share (5.3 million sf) of for-sale listings in the market. Better yet, Click expects to improve on the totals.

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