New Ownership of Renamed Coldwell Banker Commercial Intermountain Names International Trade Advocate Lew Cramer President and CEO
|Brandon Fugal, the No. 1 agent globally for Coldwell Banker Commercial, will serve as chairman of Coldwell Banker Commercial Intermountain after buying the Salt Lake City operation in partnership with Tim Simonsen and Stuart Thain.|
Three of the top commercial property brokers in Coldwell Banker Commercial's Salt Lake City office, including the firm's top agent globally and two of its long-established retail specialists, have acquired the operation for an undisclosed price from NRT, the New Jersey-based master franchiser, and will operate the firm as Coldwell Banker Commercial Intermountain.
The new ownership group, which includes top office broker Brandon Fugal and retail specialists Tim Simonsen and Stuart Thain, have named Lew Cramer, the founder and CEO of the World Trade Center Utah, to become president and CEO of the firm.
The three principals will continue to function in their current capacities as agents in the office and retail sector for the firm, which will operate as an independently-owned affiliate member of Coldwell Banker Commercial.
The new owners believe the acquisition will raise the stature and visibility of the firm and help attract business from around the world to the states of Utah, Idaho and Alaska, where it has offices.
"This new era of Coldwell Banker Commercial Intermountain will focus on strategic partnerships between the public and private sector," said 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 competiveness, 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 ranked as Coldwell Banker Commercial's No. 1 office globally for 11 consecutive years and 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.
In addition to Coldwell Banker Commercial, NRT owns real estate firms that operate under Coldwell Banker®, ERA®, Sotheby's International Realty® and The Corcoran Group® brand names.