|FirstService Williams’ rebranding to Colliers International in late April isn’t just a name change, but a market changer, say tri-state chairman Bob Freedman and CEO Mark Jaccom. They tell us the firm’s services and geographic reach are aggressively expanding.
|With the backing of the global Colliers entity, they say they’re on a mission to gain NYC market share, adding a fourth local option to the top three global firms. Also in the past few weeks, the firm opened an office in Princeton, NJ, and hired former Studley/Goldman Sachs exec Frank Edwards to lead its new Project Management Service Group, with plans to hire as many as six new management professionals this year. On the tenant and landlord rep side, they’re talking to 15 mid-level brokers and six senior, and will likely hire more than a dozen. Parent company FirstService Corp.’s acquisition of PGP Valuation in ‘06 will also add appraisal experts to the NYC mix as a new service line.
|So much for the secret handshake. Here’s Bob and Mark with Colliers global chairman Doug Frye. The firm anticipates growing its retail, property management, distressed services, capital markets, and asset management business. Because of the expansion, the firm is growing out of its 380 Madison HQ; we should expect a move-or-expand decision by the end of ‘10. Over the next three years, the firm plans to double its presence in NJ and Connecticut, add a Long Island office, and when the time is right, start a Downtown office. Additionally, they tell us that senior partners’ and producers’ 35% equity stake in the firm will serve as a recruitment and retention tool to further its growth.