Jones Lang LaSalle
Trammell Crow Returns to Cleveland Market with Boutique Firm Buy
April 03, 2006
By Gail Kalinoski, Contributing Editor
With business steadily increasing in the Ohio market over the past five years, Trammell Crow Co. felt the time was right to officially return to the state when last week it acquired Brandon Wiant Converse Ltd., a 14-year-old Cleveland boutique real estate services firm. Terms were not disclosed.
"We just had so many clients in Ohio. That was the real catalyst that put this (deal) together," Tony Long (pictured), Trammell Crow's Central U.S. regional director, told CPN this morning. "We've seen some activity in Cincinnati and Toledo--all around the state."
Long said office, industrial and retail have all been growing across the Ohio market, particularly retail, with banks opening new branches and cellular service providers like Sprint and Nextel looking for more space.
He said Trammell Crow, which hasn't had an office in the state in at last 10 years, has worked with Brandon Wiant Converse during that time on many deals in the Cleveland area.
"It was a really good fit," Long said of why Trammell Crow, which doesn't usually grow by acquisition, bought the firm. "The center of our entire company is customer service and they have the same ethic. Taking care of the customer was their most important priority."
Some of Brandon Wiant Converse's major clients included Alcan Aluminum Corp. Linde Gas, CIT Group, Education Loan Servicing and First American. The firm completed approximately 1.6 million square feet of office transactions worth more than $175 million in 2004. Founded in 1992 by Robert Brandon and Allen Wiant, the firm grew in 1998 with the addition of Chandler Converse, who helped establish it as a market leader in tenant representation and corporate advisory services. The firm had 10 employees, including eight brokers. They will report to Long, who said he expects that Trammell Crow will likely expand the staff as needed.
Including Cleveland, Trammell Crow now has eight Midwest offices: Chicago; Schaumburg, Ill.; Indianapolis; Detroit; Kansas City, Kan.; St. Louis and Minneapolis.
Trammell Crow Returns to Cleveland Market with Boutique Firm Buy
April 03, 2006
By Gail Kalinoski, Contributing Editor
With business steadily increasing in the Ohio market over the past five years, Trammell Crow Co. felt the time was right to officially return to the state when last week it acquired Brandon Wiant Converse Ltd., a 14-year-old Cleveland boutique real estate services firm. Terms were not disclosed.
"We just had so many clients in Ohio. That was the real catalyst that put this (deal) together," Tony Long (pictured), Trammell Crow's Central U.S. regional director, told CPN this morning. "We've seen some activity in Cincinnati and Toledo--all around the state."
Long said office, industrial and retail have all been growing across the Ohio market, particularly retail, with banks opening new branches and cellular service providers like Sprint and Nextel looking for more space.
He said Trammell Crow, which hasn't had an office in the state in at last 10 years, has worked with Brandon Wiant Converse during that time on many deals in the Cleveland area.
"It was a really good fit," Long said of why Trammell Crow, which doesn't usually grow by acquisition, bought the firm. "The center of our entire company is customer service and they have the same ethic. Taking care of the customer was their most important priority."
Some of Brandon Wiant Converse's major clients included Alcan Aluminum Corp. Linde Gas, CIT Group, Education Loan Servicing and First American. The firm completed approximately 1.6 million square feet of office transactions worth more than $175 million in 2004. Founded in 1992 by Robert Brandon and Allen Wiant, the firm grew in 1998 with the addition of Chandler Converse, who helped establish it as a market leader in tenant representation and corporate advisory services. The firm had 10 employees, including eight brokers. They will report to Long, who said he expects that Trammell Crow will likely expand the staff as needed.
Including Cleveland, Trammell Crow now has eight Midwest offices: Chicago; Schaumburg, Ill.; Indianapolis; Detroit; Kansas City, Kan.; St. Louis and Minneapolis.
posted by Jones Lang LaSalle NJ News Blog at 2:22 PM
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