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November 29, 2018

Boulos Co. will end its 17-year affiliation with CBRE at year's end

Courtesy / CBRE | The Boulos Co.
Courtesy / CBRE | The Boulos Co.
Drew Sigfridson, managing director of CBRE | The Boulos Co., announced today that the commercial real estate firm is ending its 17-year affiliation with CBRE Inc. at the end of the year.

CBRE | The Boulos Co. is ending its 17-year affiliation with national real estate firm CBRE Inc. at the end of the year.

The firm, which began in Portland 43 years ago as The Boulos Co., said in a news release this morning that the move will allow it to broaden and diversify national relationships as well as to hone its local focus.

The company will return to the name it began with — The Boulos Co. — beginning Jan. 1. The move will also include a new website with enhanced listings and a greater social media presence, the release said.

"Our 17-year partnership with CBRE has been mutually beneficial," said Drew Sigfridson, the managing director and a partner. He said while the name will change, along with the logo and other brand components, the assets the firm considers most essential will remain in place. The firm's ownership group, associates and support staff are all remaining, and no personnel changes are planned as a result of the change.

A family of companies comprises CBRE | The Boulos Co., including CBRE | Portsmouth, and CBRE | Boulos Asset Management. The group is northern New England's largest commercial real estate firm, according to the news release. It serves owners, investors and tenants throughout Maine and seacoast New Hampshire.

The firm has 23 employees at its Maine brokerage, 51 in asset management and four in New Hampshire. It did more than 300 sale and lease transactions in the last 12 months and more than a billion dollars in transactions in the last five years.

The Boulos Co. was founded by Joe Boulos in 1975, beginning in an office on Exchange Street in Portland. The Portsmouth office was added in 1999.

In August, the company announced its new hires program, formalized training and a new database as the firm adjusted its business model to accommodate its growing client base.

Sigfridson said in today's release that relationships with local developers, business owners and property owners won't change.

He said that the company's commitment to "tap into the national marketplace," will be strengthened with opportunities to broaden and diversify national brokerage relationships with other firms and through its affiliation with organizations like Certified Commercial Investment Member, Society of Industrial and Office Realtors and International Council of Shopping Centers.

The change will also allow more flexible local advertising and marketing decisions, including enhancing the property listing service and deploying more creative and agile marketing strategies with a more customized platform, the release said. The move will include a new website that will feature a user-friendly and visually appealing listing search as well as property photo galleries. An expanded social media presence is also in the works.

Relationships with Maine's small businesses and customized solutions for some of Maine's largest organizations will remain a focus, and the new platform will allow brokers to use their discretion and tailor each listing's promotion for maximum exposure in each local market, for that specific property, the release said.

"We want to be the go-to resource for business owners seeking to buy, sell or lease commercial property of any size — whether it's 1,500 square feet or 50,000 square feet," Sigfridson said. "We want the most user-friendly resources for our clients and customers involved in any aspect of commercial real estate."

The company also plans to enhance its in-house training and mentoring program, continuing to develop entry-level associates into fully credentialed brokers and allowing team members from across the company to train in different roles.

In conjunction with the rebranding effort, Boulos is also continuing to recruit top talent in northern New England with brokerage and management experience in the retail, office, industrial, and multi-family sectors, the company said.

Los Angeles-based CBRE is represented by 80,000 employees, excluding affiliates, in 450 offices world-wide, and is the world's largest real estate and investment firm, based on 2017 revenue, according to its website.

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