Colliers International Acquires Coral Gables-Based CREC
Acquisition of Preeminent Brokerage & Management Firm Solidifies Retail Leadership Across the State and Strengthens Service Offering in South Florida and Beyond.
Toronto and Miami, November 14, 2018 – Colliers International Group has acquired Coral Gables-based Continental Real Estate Companies Commercial Properties Corp.(“CREC”,) a market-leading commercial real estate services firm specializing in sales & leasing brokerage, property management and project management. The acquisition positions Colliers as a market leader in the retail leasing, management and capital markets sectors in Florida and strengthens its leadership role in the South Florida office market. Terms of the acquisition were not disclosed.
Led by co-founders Warren Weiser and Carol Greenberg Brooks, CREC adds a new level of depth to Colliers, a leading global commercial real estate services firm. Founded in 1989, CREC has three offices across the state and controls a portfolio of more than 12 million square feet of office, industrial and retail space in Florida.
“I am honored to have gained two amazing partners such as Warren and Carol as Colliers becomes one of the best positioned full-service commercial real estate firms,” said Ken Krasnow, Executive Managing Director & Market Leader of Colliers International South Florida. “Together, we will lead Colliers to the next level and continue to grow our South Florida market share.”
Joining Colliers will give the CREC team a global platform and leading-edge tools to keep pace with the evolution of commercial real estate.
“We are thrilled to join Colliers and be part of a team that is aligned with our entrepreneurial culture and focus on service excellence. We are now ideally positioned to accelerate our growth in the Florida market by leveraging the Colliers global brand, infrastructure and relationships,” Greenberg Brooks said.
“While we have enjoyed tremendous success as an independent firm, we are increasingly competing in a global environment where clients require a comprehensive international platform and industry-leading tools in order to provide them with the service they require,” Weiser said.
Some of CREC’s retail and office listings include One Clearlake, 800 Brickell, 2121 Ponce de Leon, Downtown Dadeland, Kendall Place, and The Galleria at Beach Place, among others. Some of CREC’s prestigious clients include Deutsche Bank/RREEF, Zurich Asset Management, Velocis, Ivy Equities, Starwood, Shopcore and many more.
Following the acquisition, Colliers retail presence will expand to a total of 48 retail specific brokers controlling more than 155 retail tenant rep accounts across Florida and more than 370 retail landlord rep listings statewide. Overall, Colliers will now have more than 160 brokerage professionals across Florida covering all major disciplines and specialty areas including senior, student, affordable & manufactured housing, marina & leisure and hospitality.
“With CREC on board, our clients will benefit tremendously from the team of professionals it had built over the years and its entrepreneurial culture,” Krasnow added. “Those are some of the reasons CREC was a perfect fit for Colliers.”