A South Carolina commercial real estate firm that was established in Charleston has been acquired by the global franchise it’s been affiliated with for years.
Cushman & Wakefield announced the acquisition of Virginia-based Morton G. Thalhimer Inc.âs Palmetto State operations on Oct. 1.
Financial terms were not disclosed.
The transaction includes three former Thalhimer offices in Charleston, Columbia and Greenville. Theyâll be overseen by Brett Gray of Cushman & Wakefieldâs Charlotte outpost.
âDuring the past five years, Cushman & Wakefield has experienced tremendous growth throughout the Carolinas, which has continued to establish itself as an attractive geography as corporate relocations and investor demand are higher than ever,â Gray said in a written statement. âThe acquisition of these offices in high-growth markets throughout the state was a natural next step as we expand our offerings and service delivery to our clients.â
Thalhimer CEO Lee Warfield said the sale will free up the Richmond-area firm âto focus our full attention and resources on the growth and continued success of our Virginia operations.â
The Palmetto State firm was started off East Bay Street in Charleston in 2004 as Commercial Carolina of South Carolina and added a Greenville office. The firm was renamed a few years later as Coppedge & Tison, which became a Cushman & Wakefield franchise and remained so after its sale to Thalhimer in 2012.
The Columbia office was opened about two years ago.
Chicago-based Cushman & Wakefield is among the world’s largest full-service commercial real estate firms. It has about 50,000 employees in 400 offices in 60 countries. Its revenue totaled $7.8 billion last year.
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