Lee & Associates' Indvik

Instead of pulling back during the recession Lee & Associates is opening new offices. Earlier this year the Newport Beach, CA-based real estate services firm opened a New Jersey office after not having a presence in the state for two years, and it also began a presence in the Boise, ID area. The firm, which is structured as a group of independently owned and operated firms, managed by presidents/managing partners in each office, plans to open seven additional locations across the country in the near future as well. Edward Indvik, managing director and chairman of Lee Advisory Board, recently spoke with GlobeSt.com about his company’s growth and the commercial real estate market in general.

GlobeSt.com: Why are you expanding and opening new offices right now?

Indvik: It seems to be the time when many of the brokers evaluate the firms they’re with and the value they’re receiving for the contributions they’re giving. We’re on our 30th anniversary, and we’ve now grown to over 600 agents and 38 offices. If you look at our growth, a large percentage of our openings have come in the downturn, or the cycles that create the downturn. In the early 90s, we added 10 offices in five years, and again in the early 00s we added another nine offices in four to five years.