One of Richmond’s oldest and largest commercial real firms has taken on a new name and a new affiliation.
Harrison & Bates, founded in 1910 by Robert R. Harrison Sr. and John W. Bates Sr., has teamed up with Seattle-based Colliers International and taken on its name. The Henrico County based firm is in the process of replacing its Harrison & Bates signs with the bright blue signs of Colliers, an international firm with 522 offices in 62 countries, 4,800 brokers and $1.8 billion in revenue in 2011.
The deal gives Colliers the opportunity to expand its presence on the East Coast while Harrison & Bates said it looks forward to taking advantage of Collier’s international footprint. The Henrico-County based Harrison & Bates had been affiliated with Grubb & Ellis for years. But it dropped that affiliation in March after the company filed for bankruptcy in February and was later sold to BCG Partners.
“This is a great opportunity to expand our presence on the East Coast with a strong team of brokerage professionals,” Dan Spiegel, executive vice president of operations for Colliers International in the U.S., said in a statement.
In 2011, Harrison & Bates completed about 290 leases totaling $66 million and completed 49 sales totaling $47 million. Thirty five associates – including 22 brokerage professionals – will
serve central Virginia and other regions across the state outside of Northern Virginia. With its new affiliation, the company said it plans to expand into the Hampton Roads area, but wasn’t specific as to what areas or how it might get into that market.
“We’re looking forward to taking our business to the next level,” David M. Williams, managing director & CEO of Collier’s new Central Virgina affiliate and the previous CEO of Harrison & Bates, said in a statement. “We’ve considered several platforms over the years, but we are very impressed with Colliers’ international footprint, high performance standards, and breadth of service …. Virginia is an increasingly attractive market for international business operations, and we’re confident in the strength of our brokerage portfolio.”
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