Consolidation Reshaping Commercial Real Estate

Posted: Updated:
INDIANAPOLIS -

The commercial real estate services picture in Indianapolis is changing again. Canada-based Colliers International Group Inc. (Nasdaq: CIGI) has acquired Summit Realty Group. Colliers says Summit will be the sole Colliers operation in Indianapolis. The deal follows DTZ's $2 billion acquisition of Cushman & Wakefield.

The company, which has a significant footprint throughout the state, is using the Cushman & Wakefield name.

Summit Realty has 70 employees in Indianapolis and offers services including tenant representation, corporate solutions, capital markets and investment sales, property management and project management. For the last two years, Summit Realty was named a "Best Places to Work" in Indiana through the Indiana Chamber program.

Colliers International Western Region President Martin Pupil says "the new Colliers International in Indianapolis has an enviable track record in the Midwest but also in many of the world's major markets. Their unique expertise combined with their collaborative culture and passionate desire to serve clients makes them a perfect fit for Colliers and further strengthens our platform market leadership in the Midwest, an important and growing region."

Co-Market Leader Brian Zurawski says consolidation continues to affect the industry. "Our organization was focused on aligning with a platform that would truly enhance our ability to service our extensive multi-market client base nationally and globally. Without question, the culture of Colliers International aligns with our own, encouraging our people to think differently, share great ideas and to create effective solutions that accelerate our clients' success."

Collier International is continuing to expand in the Midwest, recently growing the St. Louis market, which adds to operations in Chicago and Kansas City.

  • Perspectives

    • Circling Back on WeWork

      Back in July when we first discussed WeWork, this fast-growing but money-losing venture was one of the most talked-about IPOs in years. At that time, we noted that it was too early to say what would happen, but “it should be very interesting to watch it all play out.” Turns out, that was a massive understatement!

    More

Events



  • Most Popular Stories

    • (IIB Photo/Alex Brown)

      India Wants to Partner with Indiana on Sports

      Indiana Secretary of Commerce Jim Schellinger says a recent trade trip to India included a rare meeting that produced some interesting results.  Schellinger and Governor Eric Holcomb were granted an audience with Indian Prime Minister Narendra Modi.  “We were taken aback at how well he knew Indiana,” said Schellinger. “He knew our (economic) background, our educational background, our history of sports statewide,” said Schellinger, who added...

    • (Image courtesy of Indiana State University)

      ISU 'Dreams' of Major Sports Facilities Improvement

      When Indiana State University developed a master plan for its campus, it didn’t include sports and athletic facilities. That’s about to change.  The university this week revealed a major plan for their sports facilities, according to a report from The Tribune Star of Terre Haute. 

    • Circling Back on WeWork

      Back in July when we first discussed WeWork, this fast-growing but money-losing venture was one of the most talked-about IPOs in years. At that time, we noted that it was too early to say what would happen, but “it should be very interesting to watch it all play out.” Turns out, that was a massive understatement!

    • (Image Courtesy: Purdue Agricultural Communication)

      Slow Harvest in Indiana, Mixed Yield Estimates

      As fall harvest rolls along across the Corn Belt, the U.S. Department of Agriculture has updated its predictions of the size of the nation’s corn and soybean crops. In Indiana, the data shows the state’s corn yield has improved, while soybeans dropped over the past month. 

    • Lauren Petersen and Johna Norton

      United Way Names New Board Members

      United Way of Central Indiana has elected Lauren Petersen (pictured) and Johna Norton (pictured) its newest board members. Petersen currently serves as TechPoint’s senior director of relationship management. She graduated summa cum laude from Ball State University in 2011 where she earned a bachelor’s degree in urban planning and development. Norton serves senior vice president, Global Quality for Eli Lilly and Co.