"We have very aggressive corporate objective, and we do that in precise and focused way," Chris Ludeman, CBRE's US brokerage president tells GlobeSt.com. "We are in the market making firms in areas where we do not have footprint, but where we want to be."
With offices in Milwaukee, Madison and Appleton-Green Bay, Polacheck employs a staff of 117 people, operating as the Polacheck Co. Inc., brokerage, and the Polacheck Property Management Corp. The firm has served as CB Richard Ellis' affiliate in Wisconsin for approximately 10 years. In its most recent fiscal year, Polacheck completed sales and leasing transactions valued at approximately $600 million, and managed seven million sf of commercial property.
Following the Wednesday's, Polacheck adopted the CB Richard Ellis brand, and its president, Max Rasansky, who will lead CB Richard Ellis' Wisconsin operations as managing director.
Rasansky tells GlobeSt.com that with the marketplace moving to a global arena, CBRE is making headway in insuring the company's reach by acquiring well-positioned affiliates. "The business is going global, and the need is different," Rasansky says. "All the stars lined up and that's why we joined together."
And it's not the first time the stars have aligned for the company. In April, CBRE acquired a 51% stake in Noble Gibbons, one of Russia's leading real estate services firms, which has been a CBRE affiliate since 1995. And In January, the company exercised its option to acquire a majority interest in its Japan affiliate, Ikoma CB Richard Ellis.
Despite being swept up by a powerhouse like CBRE, executives tell GlobeSt.com that Polacheck will continue to operate organically within the Milwaukee market. "With a merger of this sort what's nice is that the team will not lose the entrepreneurial local nimbleness, but it will have the horse power of global leader," Ludeman says.
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