Commercial real estate brokerage sells business
A publicly traded commercial real estate company said this afternoon that it has acquired a brokerage serving West Michigan.
Colliers International Group (Nasdaq: CIGI) has acquired Colliers International | West Michigan, which has a presence in downtown Grand Rapids, Holland and Kalamazoo.
Terms of the deal were not disclosed.
Colliers International | West Michigan was previously affiliated with Colliers International, but the new investment will help the West Michigan brokerage utilize the company’s resources, infrastructure and platform, according to an agency spokesperson for the local brokerage.
The local operations will remain the same, with the exception of some potential leadership adjustments.
“Joining the global operations of Colliers International was an obvious next step for us,” said Duke Suwyn, chairman and CEO, Colliers International | West Michigan.
Colliers International | West Michigan was formed in 2009 when Paramount Commerce affiliated with the global real estate company.
“West Michigan is a thriving marketplace with a diverse economy that appeals to a broad range of large corporations,” said Steve Everbach, Central Region president, Colliers International Group. “Colliers West Michigan has the deep local market knowledge and by expanding our capabilities throughout Michigan, we can now integrate our services not only in the state, but throughout the entire Central Region.”
Colliers International Group has made several acquisitions in the past two years in its Central Region, including Indianapolis, St. Louis and Dallas.
The company has more than 16,000 employees in 66 countries.