The office had previously offered primarily only brokerage services and will now have "all of these additional resources that we have built over 25 years in Philadelphia," he says. Some of the expanded services will include property and project management, debt and equity financing, appraisal and consulting.
"For us, we think it is a great thing for our clients," he says. The Harrisburg office had seven brokers, which is expected to increase to at least 10 to 12, Walters says. CB Richard Ellis recently hired Jeremy Shyk, a "very talented office broker" who had previously been with Landmark Realty, Walters tells GlobeSt.com. Shyk will be a first VP and is the "first recruiting success" the Philadelphia regional office has had for the Harrisburg office, Walters says. The office had been successful and this is "bringing more arrows to the quiver, so to speak," he says.
Besides increasing the services and staff, "we anticipate doubling our revenue in Harrisburg in two to three years," he says; although, Walters would not disclose what the current revenue is for the office.
"We think the Harrisburg market is a growing market," he says. "It is clearly a significant market for industrial and there is a significant amount of grown activity in Harrisburg, York and [around] Route 81 and Route 83," he says.
The Harrisburg office had previously been managed by the Pittsburgh office and will now be a corporate office managed by the Philadelphia regional office. The CB Richard Ellis' Greater Philadelphia Regional Office and the CB Richard Ellis Pittsburgh LP had a joint venture for 10 years, he says. "Recently, CB acquired the remaining equity of the Pittsburgh office," Walters tells GlobeSt.com.
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