Posted by: BayAreaComRE | January 6, 2010

BT Breaks from NAI to Form Cassidy Turley

The alliance between NAI and BT is no longer. BT Commercial divorced NAI to join the newly formed and fourth largest commercial real estate conglomerate in the U.S. – Cassidy Turley. The newly formed, privately held national company will be comprised of six other real estate firms, bringing the total employee count to 2,700. Grubb & Ellis lost two of their largest affiliates to the merge, BRE Commercial San Diego and Phoenix. Colliers surrendered four affiliates – including Turley Martin Tuker in St. Louis and D.C. based Cassidy & Pinkard – who merged in August of 2008 but stayed under the Colliers umbrella until now.

The merge will allegedly increase BT Commercial’s square footage under their year-old property management division from 1.5 million sf to over 400 million sf.

It seems that more and more brokerage companies are jumping into the property management game as transactional services have produced less revenue in the last two years due to the downturn. Tenant retention and portfolio servicing is paramount in today’s environment and we’re seeing an influx of new players trying to capitalize on these concepts.

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Responses

  1. […] firm CPS is joininng the newly formed Cassidy Turley (we reported on the formation of Cassidy Turley last week). The roughly 30 brokers from CPS will begin transitioning into the Cassidy Turley umbrella […]


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