Coldwell Banker Commercial’s Salt Lake Office Acquired by Private Investors

A group of private investors announced today the acquisition of Coldwell Banker Commercial’s Salt Lake City, Utah, office from NRT LLC and the appointment of Lew Cramer as the new President and CEO. Now functioning as Coldwell Banker Commercial Intermountain, the acquisition marks a commitment to expansion and business development on an international scale under the Coldwell Banker Commercial banner.

Cramer brings with him years of experience enhancing Utah’s international expansion in his most previous role as founding President and CEO of the World Trade Center Utah. Under Cramer’s leadership, Utah became the only state in the country with positive export growth every year for the past ten years. In 2012, $19 billion of merchandise was exported, creating thousands of jobs for Utah residents.

“We wish Lew the very best in his new position with Coldwell Banker Commercial Intermountain, and thank him for his service to Utah during the past 7 years as the founding President of World Trade Center Utah,” said Utah Governor Gary Herbert.

Under the ownership of Utah-based commercial real estate agents Brandon Fugal, Tim Simonsen and Stuart Thain, the company is committing itself to making the Intermountain region a top consideration for companies looking for great talent and growth. The three principals will continue to function in their current capacities as leading agents in the office and retail sector.

“This new era of Coldwell Banker Commercial Intermountain will focus on strategic partnerships between the public and private sector,” said Chairman Brandon Fugal. “Lew’s leadership and knowledge of international business will be vital to help expand business development in Utah and attract growth from around the world.”

“My job has been to position Utah as a leader in the international market place,” said Cramer. “I believe that to succeed, one needs to be internationally minded. By showcasing our global competitiveness, the brainpower of the Intermountain West and attracting international dignitaries to Utah, Idaho and our Anchorage locations, economic growth will come exponentially.”

The Salt Lake City office has been named as Coldwell Banker Commercial’s No. 1 office globally for a consecutive 11 years. As an office, the success is incomparable to any competitor in the Utah market. Fugal, Simonsen and Thain are well known for representing ventures and projects such as Cinemark Theatres, RiverPark, Thanksgiving Park, Traverse Mountain and Cabela’s. They are no strangers to closing influential deals that create growth and jobs within the region. Fugal is currently recognized as the No. 1 agent globally for Coldwell Banker Commercial, leasing over 1,000,000 square feet in the last year.

This evolutionary acquisition will raise the stature and visibility of the Coldwell Banker Commercial Intermountain brand, globally, bringing business from around the world to the states of Utah, Idaho and Alaska.

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