Kurt StoutColliers International Group has closed its previously announced acquisition of a majority interest in the operations of CBRE Group in Central and Southeast Virginia.
The deal is a notable one for the Commonwealth of Virginia — it is now the dominant market player in the state. CBRE's four offices in Richmond, Norfolk, Charlottesville and Fredericksburg will be rebranded as Colliers International. The combined company's 340 professionals now oversee a 58-million-square-foot asset services portfolio and completed more than $1.8 billion in sale and lease transactions during 2018.
The transaction also positions Colliers Virginia a leading provider of asset services to General Services Administration-leased asset investor clients throughout the country.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
