Colliers International Chicago to Merge with Podolsky Firm

CHICAGO—Colliers International | Chicago reports it will merge with the boutique Podolsky Circle commercial brokerage firm here next month.

The deal, which will be effective Sept. 1, will add a total of nine employees and seven independent contractors to Colliers’ existing operations of more than 300 real estate advisors, property management professionals and staff. The new strategic partnership with Colliers allows Podolsky to leverage a worldwide platform of professionals and services to better serve its client base.

“We are thrilled to partner with such a respected organization as we continue to grow our Chicago operations,” says Jim Carris, executive managing director and market leader for Colliers | Chicago. “From a business standpoint, it is a mutually beneficial relationship while culturally it is a great fit—we expect a seamless integration.”

For Colliers it means the addition of an established four-person office capital markets team and five veteran industrial brokerage professionals. Colliers will also fold Podolsky’s 32-building, 2.1-million-square-foot property management portfolio into its existing portfolio.

“As the commercial real estate industry continues to shift from a local/regional business focus to a more global focus, it became clear that we needed a partner with a successful, unified platform,” says Alissa Adler, Podolsky’s managing principal and managing broker. “Colliers is well known for its global reach as well as its entrepreneurial approach to business. We are very much looking forward to being a part of the organization and ultimately being able to serve our clients around the world with the excellence they deserve.”

Founded by Milton Podolsky in 1971, Podolsky Circle grew into one of Chicago’s best-known boutique commercial real estate firms with a core business comprised of brokerage, property management and investment advisory services. The firm was a founding member of CORFAC International in 1989.