David Browning, managing director for CBRE in Cleveland, will oversee the expanded Akron office. "For us, the motivation for the acquisition was that the Redstone principals are very dynamic retail brokers," Browning says. "We're looking to grow our corporate services retail sector."

Redstone has connections throughout the Midwest, particularly with greenfield Ohio, Indiana and Michigan sites for Wal-Mart and Sam's Club, Browning says. "They have an incredible knowledge of big-box strategies in the Midwest," he tells GlobeSt.com. "Retail is one of the most active property segments in recent years, though it's clear that it's going to take a breather in terms of overall development activity."

CBRE is expanding on other areas as well, acquiring three affiliated firms in Salt Lake City, UT; Fresno, CA and Albuquerque, NM, according to a CBRE spokesman. However, he says this is an apples-and-oranges comparison with the Redstone acquisition. "We have a plan of acquiring partner firms where they are in markets with good growth potential. The Redstone purchase is more about our desire to grow in the Midwest." The Redstone acquisition price was not disclosed.