Trammell Crow Will Shutter Doors in Tacoma

TACOMA-Trammell Crow Co., one of the largest diversified commercial real estate services companies in the United State, will close its Tacoma office.

In a statement issued this week, Trammell Crow tied the decision to a larger reorganization effort and a refocusing of efforts on bigger markets. The closure will affect seven local employees, although it’s uncertain exactly when the office will shut down completely.

In February, Trammell Crow announced an internal reorganization of its business designed to consolidate all of the property and facility management, brokerage and project management services delivered to both corporate and institutional customers under a single leadership infrastructure. The reorganization is also designed to create a national organization focused solely on the company’s development and investment activities.

As part of the restructuring, the company is undertaking an aggressive cost-cutting effort focusing on inefficiencies and redundancies. The goal of the cost-cutting effort will be to achieve an ultimate positive impact on earnings per share of 10 cents to 15 cents.

“Our internal reorganization is motivated by our desire to better serve our customers, achieve operating efficiencies and make our company easier to understand for all our constituents,” Bob Sulentic, Trammell Crow’s president and chief executive officer said in February. “We expect to enhance our efficiency by eliminating the overlap that historically existed between our local offices and our corporate services teams.”

Trammell Crow will continue to operate five Seattle offices, two in Kirkland and one each in Kent and Lynnwood.