Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Order a copy
    • Buy an award plaque
    • Suggest execs for 2022

Advertisement

Header Primary Menu

  • Issues
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Order a copy
    • Buy an award plaque
    • Suggest execs for 2022

Home News Regions CRE_other_regions CBRE affiliates cut loose

CBRE affiliates cut loose

Published October 8, 2018 by Michael O'Connor

CBRE Inc. is cutting ties with its Virginia affiliates.

CBRE Inc. and CB Richard Ellis of Virginia Inc. have agreed to end their affiliate agreement covering the markets of Charlottesville, Fredericksburg, Newport News, Norfolk, Richmond and Virginia Beach on Dec. 31, according to a two-sentence announcement Monday morning.

CBRE Inc. said it will operate as a wholly-owned business in all Virginia markets starting in January, according to the announcement. A CBRE Inc. spokesman would not comment beyond what was in the announcement.

Monday afternoon, J. Scott Adams, a CBRE regional president of the mid-south affiliate offices, issued a statement on the split.

“Today marks an important day in our company’s exciting future,” Adams said in the statement. “We believe we have substantial growth opportunities both within Virginia and beyond.”

CBRE’s affiliates in Virginia are private companies that license the CBRE brand. Adams said since the affiliates and CBRE Inc. have separate operations and support services, there would be minimal impact on the business. Adams said through Dec. 31 the Virginia affiliates would continue to use the CBRE brand. He said after that there would be a new structure for the business. Adams declined to elaborate on what the new structure might look like.

“This announcement was fully expected given the mutual agreement by the two companies to the December 31, 2018 date,” Adams said.

The announcement of the split comes weeks after some CBRE affiliate executives announced the launch of an unaffiliated multifamily property management group. Adams said the announcement of the split was “completely unrelated” to the new multifamily property management group.

Related Stories

Virginia Business logo

Construction spending in January posts biggest year-over-year increase since 2006

Virginia Business logo

Five-story office building in Roanoke sells for $6.3 million

Retail center sells in Blacksburg

Trending

Newport News apartments sell for $9.75M

SCC approves Dominion’s $9.8B offshore wind farm

Amazon opens new Chesapeake facility

Six Va. companies land spots on Fortune Global 500

Va. Credit Union loses bid to expand membership

Sponsored Stories

Creating An Urban Destination in Chesapeake

5 surprising facts employers should know about voluntary benefits

What Supply Chain Problems should you be planning for in 2023?

Advertisement

Advertisement

Trending

Newport News apartments sell for $9.75M

SCC approves Dominion’s $9.8B offshore wind farm

Amazon opens new Chesapeake facility

Six Va. companies land spots on Fortune Global 500

Va. Credit Union loses bid to expand membership

Sponsored Stories

Creating An Urban Destination in Chesapeake

5 surprising facts employers should know about voluntary benefits

What Supply Chain Problems should you be planning for in 2023?

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2022 Virginia Business. All rights reserved.

Site Maintained by TechArk