EBS & Associates Acquired

"For legal reasons, we're keeping the EBS brand while we transition listings over to CPI, but after that, both locations will be CPI and we'll operate as one company," says Jeff Bassett, Commercial Properties Inc.'s director of marketing and research. He tells GlobeSt.com that EBS principals approached Commercial Properties Inc. with the possibility of a sale, and Bassett says the company's investment sales niche was extraordinarily appealing.

"They brought us a niche that, while we can do it, we're not known for that as our strength," Bassett comments. "We're looking forward to being able to build on that, on the strength of EBS." EBS' principals Ken Elmer, Fred Buck and Ron Shooler have joined Commercial Properties Inc. as agents, and will continue working out of the Scottsdale office.

Bassett explains that Commercial Properties Inc. had set out last year to be proactive in the down market, which involved growing in every possible way. During the past summer, the Tempe office added eight new agents. Bassett says there is still room in the Tempe office for more, and with EBS on board, there are six cubicles available in Scottsdale as well.

"As long as it's a good fit, and an agent is interested in what CPA has to offer, we'll be willing to talk," Bassett remarks. He says no changes will be made with EBS' support staff at this point.

Bassett says Commercial Properties Inc. isn't necessarily looking for more firms to acquire, though if another entity shows the right fit and it makes financial sense, the company is willing to take a look. "The fit is the main thing," he adds.