Colliers buys boutique commercial brokerage in West Palm Beach

Colliers International South Florida acquired a boutique commercial brokerage in West Palm Beach, amid its continuing efforts to expand in the tri-county area.

Colliers bought Michael Falk & Co., a five-person team led by brokers Michael A. Falk and Scott Weprin. In November, Colliers acquired Continental Real Estate Companies,  led by Warren Weiser and Carol Greenberg Brooks. And in August 2015, it bought Pointe Group Advisors.

Falk said the sale gives his brokers the resources of a national firm, with teams focused on such areas as government services administration, healthcare, telecommunications, self-storage and retail.

Colliers now has five offices in South Florida, including two in Miami, and one each in Fort Lauderdale, Boca Raton and West Palm Beach. The firm has a total of about 150 employees in South Florida, including 65 brokers.

Ken Krasnow, Colliers’ executive managing director in South Florida, said the deal boosts Colliers’ reach in the industrial market. Neither he nor Falk would disclose the purchase price.

“We’re obviously heavily invested in the industrial sector, and Michael has a really strong track record and reputation with some of the larger industrial owners and tenants in that market,” Krasnow said.

It also gives Colliers a West Palm office and expands the firm’s base in Palm Beach County, after it closed a Palm Beach Gardens office in June when the lease expired. Krasnow said the firm wanted to maintain a presence in the northern Palm Beach market, and farther up to the Treasure Coast.

Falk founded his business in 1998, and it grew to be a full-service commercial brokerage focused on the sale and leasing of office, industrial, and investment properties. The firm’s clients include West Palm Beach-based McCraney Property Co. and Precise Properties.

Krasnow said he is looking to expand further. “We still think there is a lot of growth in this market,” he said.