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Industry News
Real Estate Industry NewsReal estate brokerages in shakeupMajor alliance changes among the region's largest commercial real estate brokerages continue as downtown-based West Shell Commercial, a Grubb & Ellis franchise for the past decade, joins Seattle-based Colliers International in May.The local office of Colliers Turley Martin Tucker abandoned its relationship with Colliers International earlier this year, setting up shop with a new 19-city chain of offices based in St. Louis called Cassidy Turley.California-based Grubb & Ellis said last week that it will open a new company-owned office in Cincinnati when West Shell becomes Colliers. The moves are likely to cause confusion around the region, brokers say. West Shell Commercial will drop its namesake of the past 52 years from its title (West Shell was the company's founder and a well-known local real estate agent). All of its local real estate signs will soon have a similar logo that just three months ago was abandoned by Cassidy Turley."Both firms will need to spend some time re-branding themselves," said Alan Piker, managing partner of CRESA Partners, a Blue Ash-based firm. "Whether or not there is any additional fallout from these changes remains to be seen."
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