LITTLE ROCK, AR-Marcus & Millichap Real Estate Investment Services has solidified its Arkansas presence by opening a Little Rock office. Long-time local CJ Cropper Co. was acquired to shore up Marcus & Millichap’s efforts, which will target the entire state.
Matthew Fitzgerald, regional manager of the company’s regional manager of mid-market offices tells GlobeSt.com that Marcus & Millichap offices in surrounding areas, notably Memphis, TN, Oklahoma City and Dallas, have done an excellent job with deals in the state. The new office at 5507 Ranch Dr. won’t negate efforts from offices in surrounding states, Fitzgerald continues. Rather, it will allow the company an ability “to offer a little more coverage for our clients in those marketplaces in which they’re doing business and deals,” Fitzgerald comments.
CJ Cropper Co. was targeted for Marcus & Millichap’s expansion because of the firm’s longevity and regional roots. Fitzgerald says Marcus & Millichap’s strategy is to move into markets and rely on the full range of local talent. “These folks have the market knowledge that comes with time and experience in that area. We can’t really replicate that,” he comments. The Little Rock office is a company office, so the CJ Cropper name will eventually be phased out, Fitzgerald adds.