Los Angeles — CBRE Group has acquired the commercial real estate brokerage, investment property sales and property management services business of The Furman Co. and certain of its affiliates. Those business lines have served as CBRE’s affiliate in South Carolina, and have operated under the banner of CBRE|Furman since 2010.
CBRE|Furman serves the 10-county upstate region of South Carolina. The acquisition enhances CBRE’s capabilities in the region, adding 18 sales and leasing professionals, staff and 4.5 million sq. ft. of office, retail and industrial property under management. With the acquisition, the CBRE|Furman business will now operate as CBRE.
The Furman Co. will retain ownership and control of its development, investment advisory and risk management/insurance agency businesses. Those businesses will continue to operate independently as The Furman Co. under the leadership of Steve Navarro, president of The Furman Co. Navarro will remain affiliated with CBRE in a consulting capacity focused on CBRE client service.
Steve Smith, managing principal of CBRE|Furman, will join CBRE as managing director of its operations in South Carolina.