Vineet Sahgal, EVP in Grubb's Chicago office, will work with EVP Bob Nosal in Cleveland to establish the new Ohio locations. "Having company-owned offices in the three major markets in Ohio expands the service we can provide to both clients based in the state as well as national clients with a presence here," Nosal tells GlobeSt.com.
Grubb & Ellis plans to significantly expand full-platform, company-owned offices in the next 24 months. The company maintains affiliate relationships with companies in 63 markets, and some of those affiliations will remain in place, says Jack Van Berkel, president of the company's Real Estate Services division. "The changes will be based on whether the market is a top 50 market, and also on contracts, some have remaining one-to-three year terms," he says. "We've successfully leveraged our affiliate relationships for many years, and today's announcement doesn't mean we are abandoning our affiliate strategy. Where affiliate relationships are the best solution, we want to ensure that we are partnering with the local firm that best meets our criteria as well as the needs of our clients."
The company is also opening offices in Phoenix and San Diego. Van Berkel says he can't comment on which market will be targeted next.
Growth following the recent year's upheaval seems a natural choice, Van Berkel tells GlobeSt.com. "We believe the commercial real estate market is going to come back. It's a good time to put owned offices in place," he says.
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