CPN - February 2009 - (Page 21)

BROKERAGE INDUSTRY PULSE Time for Change? Expanding Service, Coverage Works—When Driven by Clients By Amanda Metcalf D ifficult economic times are a good time to diversify. And for brokerage and other service providers, such moves have proven to have value beyond the heightened chance of steady income in uncertain markets. Complementary services can strengthen the existing business lines,as well.But to achieve success, some have found, it can be best to let client demand drive decisions on what to pursue and where.The following case studies offer insight into success stories that have evolved from that strategy. SYNERGISTIC SERVICES Transwestern has been here before. The firm launched in 1978 as a developer serving the major Texas markets. As a merchant builder in an energy-centric area, it was one of the first to feel the pinch of the late-1970s oil crisis. Soon, however, the company was expanding with one-off projects, often toward the West Coast. The firm then capitalized on the relationships it had built with development partners to expand into third-party services, and by 1987, it had built a leasing, management and investment sales portfolio of 30 million square feet. “You couldn’t be (just) a developer anymore,” stated Chip Clarke, president of the Gulf Coast and Mountain regions. Following a series of organic-growth moves and selective mergers and acquisitions, the company now offers agency leasing, property and facilities management, investment, tenant advisory, development and research services. Although Transwestern in development, not brokerage, its story bears witness to the value that other client services can bestow upon a brokerage practice. Clarke called Transwestern’s brokerage and development lines highly synergistic. “(The development heritage) gives our folks a true, unique owner perspective. … It’s kind of built into our DNA—how much things cost, how to create value at an asset level.” “You don’t want to be all things to all people. … If you do that, you get out over your skis.” stated. As an example, he cited Transwestern’s healthcare practice group, which launched in 2002 to formalize the company’s work with clients related to Houston’s Texas Medical Center, the largest medical district in the world. The relatively new group has since expanded its coverage to other Texas cities, as well as Colorado. IRRESISTIBLE COMBINATION Sometimes, expansion opportunities are just too good to pass up. —John Owen, Voit Commercial Voit Commercial BrokerBrokerage/CORFAC International age/CORFAC International touts the value of broAs the company has expanded, kers who focus on Southern Califorit has continued to respond to nia, where it is based. But it opened client demand. “All of our signifia Las Vegas office in 2002 in cant changes have been driven by response to client need. our (existing) client base,” Clarke Clients like Western Realco Inc. Free, Is the Sky Falling on Commercial & On-Demand Multi-Housing Property Developers? Webcast Get an In-Depth Look at the Federal Bailout Plan & How It Impacts Your Business The U.S. financial market is enduring one of the worst crises in its history. The investment banking model as we know it is effectively gone, and many commercial banks are spiraling downward, as well. Join Commercial Property News, Multi-Housing News and Contract for this on-demand Web seminar and hear from leading economists how the current financial bailout strategy will impact your business. Attend this online-only event, and learn how to protect your investments and navigate through this challenging environment. Presented by Presenting Economists: Sponsored by Sam Chandan Ph.D. Chief Economist, Reis Inc. Jon Southard Richard Green Director of the USC Lusk Principal Director of Forecasting, CBRE Torto Wheaton Research Center for Real Estate To register for this FREE Webcast, go to www.cpnonline.com/economicwebcast www .cpnonline.com • Februar y 2009 • COMMERCIAL PROPERTY NEWS 21 http://www.cpnonline.com/economicwebcast http://www.cpnonline.com/economicwebcast http://www.cpnonline.com

Table of Contents Feed for the Digital Edition of CPN - February 2009

CPN - February 2009 Contents Starting Line Buzzworthy Office Data/Analysis Washington, D.C., Market Profile Ranking: Mortgage Banks & Brokerage Firms Top Deals of 2008 Mortgage Banking Mexico Brokerage Sustainability CPN-Nielsen Claritas Special Report Resource Guide

CPN - February 2009

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