CBC Advisors’ Miami office plans aggressive expansion post-merger
On the heels of merging with CBC Advisors, CBC Alliance’s Miami branch is looking to expand aggressively in the near future.
The Coldwell Banker Commercial franchises closed on the merger at the end of July for an undisclosed amount. Jim McCoy, managing partner of the CBC office in Miami, said it brings them to a combined sales volume of $3.7 billion for 2015.
Now, McCoy told The Real Deal the Miami office will roughly triple in size in the coming months. McCoy, who started the Miami branch about two and a half years ago, said the 10-person team is mostly made up of 20- to- 30-year industry veterans.
CBC Alliance’s Miami outpost focuses about 60 percent of its business on investment sales and the remaining 40 percent on tenant and landlord representation, with Class B office as its sweet spot. He said the merger, which was a West Coast meets East Coast deal, marks a significant upgrade in terms of platform, marketing and communications technology.
Now called CBC Advisors, the company has offices in Alaska, Arizona, California, Colorado, Idaho, Nevada, New York, Texas and Utah.
McCoy said the merger makes the company the largest independent commercial real estate franchise affiliate based on sales volume last year. “It wasn’t just a small combining of a couple of offices,” he said. “We’re talking a global scale.”