"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 asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
