"We'll continue a very focused approach to the development business and the service business," says Steve Gassaway, area director for the Carolinas. "We already have a tremendous amount of inventory and personnel in the Carolinas and this should help us create even more synergy."
While Gassaway acknowledges development slowdowns have occurred in both Charlotte and Raleigh, he says Trammell Crow continues to to focus on Raleigh where new business could be garnered in corporate services, transactions, facilities, project and property management.
The publicly-traded firm has been in the Carolinas for 25 years.
The reorganization consolidates the company into two divisions. Global Services, with more than 7,000 employees, will focus on property and facility management, brokerage and project management for corporate and institutional customers. Development and Investment Services, with 260 employees, will concentrate on build-to-suit projects for corporate customers.
Trammell Crow has several hundred employees in the Carolinas, an area that has been identified as one of the company's top 14 mega-markets because of development opportunities, Gassaway tells GlobeSt.com.
The company manages 2.5 million sf of office and retail in the region. That includes South Square Mall in Durham, NC and properties owned by Bank of America, TA Associates, Cisco Systems, Real Estate Trust and Glenborough Real Estate Trust.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
David Wilkening
David Wilkening began his long journalism career as a police reporter for Chicago-area newspapers. He became a writer-editor for major newspapers in Chicago, Washington, Detroit and Florida. He has been a business editor, political editor and travel editor for newspapers and magazines. He tried for a while to be a political operative but did better as an adjunct college professor teaching English and journalism. He is the author of several books, both ghost-written and under his own name. He is also a widely published freelance writer who currently lives in Orlando.
