Henrico County-based Cushman & Wakefield | Thalhimer is stepping into the South Carolina market.
The commercial real estate brokerage completed the purchase of Charleston, S.C.-based Coppedge & Tison's assets this week. Details of the purchase were not disclosed.
The addition of Coppedge & Tison's two offices — in Charleston and Greenville — gives Cushman & Wakefield | Thalhimer 10 offices in three states as it helps expand its mid-Atlantic footprint, brokerage CEO Paul Silver said.
Coppedge & Tison's employees will stay on with Thalhimer.
Silver says joining forces made sense for several reasons.
"They were looking for a wider platform that had more depth to it, and we were looking for the ability to spread our talent, knowledge and our clients' needs to a larger geography," he said.
What made the decision easier was that the executives at the two firms knew one another well and that the South Carolina firm was a good fit for Cushman & Wakefield | Thalhimer, he said.
"We've had a relationship with the principles of that firm for an extended period of time, and it was a fit for us from a geography standpoint and for us from a culture standpoint," Silver said.
This is Cushman & Wakefield | Thalhimer's second expansion into another state in 13 months. In January 2011, the firm moved into North Carolina, where it now has offices in Charlotte and Raleigh.
Coppedge & Tison has begun adopting the Cushman & Wakefield | Thalhimer name as well as the firm's systems and processes.
Silver expects the transition to go smoothly.
"With any kind of combination of firms, you can always work through the processes. You can work through the math. It comes down to culture. You have to find people who share your values and your views," he said.
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