Boring told GlobeSt.com in February that the push to build valuation businesses is a result of the major houses recognizing that Seattle and the rest of the Northwest is an important market long term. Part of the reason is that more attention is now being paid to the Northwest by institutional investors, many of whom have relationships with the national brokerage houses, he says.
Another reason the major brokerages are focusing on the region is its proximity to Asia, says Boring, whose task is to launch and grow the Seattle valuation division and then repeat the process for the Portland, OR market. "There is a long-term view from corporate that as New York was to Europe for the past 100 years, Seattle and Vancouver, BC, will be to Asia over the next 100 years," he says.
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