CBC Advisors To Open Downtown Salt Lake City Office at 111 Main
SALT LAKE CITY (November 16, 2015)– Coldwell Banker Commercial Advisors (CBC Advisors), an independent affiliate of Coldwell Banker Commercial and the largest full-service commercial real estate firm in the Intermountain West, announced that it has entered into a definitive agreement to acquire NAI Vista for an undisclosed amount.
“By acquiring NAI Vista, CBC Advisors both strengthens its investment practice and increases economic development opportunity within the Intermountain Area,” said Brandon Fugal, Chairman of CBC Advisors. “We look forward to welcoming this talented group of NAI brokers and commit every possible resource to provide them with the tools, technology, and services needed to lead the market.”
Following a chain of recent office openings in Las Vegas, Los Angeles, Phoenix, Reno, Sacramento, San Diego and San Jose, the acquisition aligns with a comprehensive expansion strategy aimed at building favorable environments for commercial brokerage business across the United States. NAI Vista marks the third NAI affiliate CBC Advisors has acquired within the last 12 months.
“We see many cultural similarities to the management philosophies and core values initiated by NAI in the early 2000s,” said Lew Cramer, President and CEO of CBC Advisors. “The brokerage platform at CBC Advisors seems to resonate with NAI brokers throughout the country as they shift their services over to our management system.”
Rawley Nielsen, President of NAI Vista, was named President of Investment at CBC Advisors. In his new role Nielsen will focus on growing investment sales while assisting with the immediate incorporation of all NAI Vista brokerage and property management services. The move transitions all professionals who operate from offices located in Salt Lake City and Provo, Utah, including industry veterans David Hennefer and Mike Nielsen. Hennefer and Mike Nielsen will also assume leadership roles as part of the transition.
“Privately held and free of Wall Street debt, CBC Advisors is committed to providing the foundation for a new and progressive force within the commercial real estate industry,” said Rawley Nielsen. “A union with CBC Advisors enables our brokers to focus on building relationships and producing bottom-line results, as opposed to being hampered by quarterly expectations and absentee management, further solidifying the fact that an organization with a solid vision and platform for growth is key to long-term success.”
Additionally, CBC Advisors announced the planned opening of a new office location on the 22nd floor of the prestigious 24-story 111 Main building in Downtown Salt Lake City, currently under construction. 111 Main is CBC Advisors’ fourth Class A office location in Utah. The company will continue operating from its Salt Lake City headquarters as well as from its American Fork and Saint George offices.
“CBC Advisors has been actively involved with economic development within the Salt Lake City central business district for decades,” said Cramer. “Our 111 Main office will set a new standard and powerfully position our professionals in the heart of the Salt Lake City CBD.”