Crye-Leike Realtors Expanding Into Area

Crye-Leike Realtors, the nation’s sixth largest real estate company, plans to open an office branch in Rogers in October.

The Memphis-based company had sales of $5.6 billion with 34,039 closed transactions companywide in 2005, according to REAL Trends Inc., a provider of information and analysis for the residential real estate industry.

Crye-Leike has 104 branch and franchise offices in seven states with a network of more than 3,300 associates.

The Rogers location will be the 13th branch office. Crye-Leike is the second largest real estate company in the state with $611 million in residential sales in 2005 behind Fayetteville’s Lindsey & Associates Inc., which sold $704 million the same year.

It first expanded into Arkansas with an office in West Memphis in 1997.

“Northwest Arkansas has such a dynamic growth happening there right now,” said Crye-Leike director of public relations Michele Niec. “Over the last 15 years, the Rogers’ area alone has doubled, so there’s obviously a lot of potential there.”

Construction is under way at 3003 W. Walnut Street. Harold Crye, Crye-Leike chief operating officer, purchased the 3.25 acres for just over $1 million and a $650,000 building permit has been obtained for the project.

Niec said the company plans to accommodate 80 associates at the Rogers’ branch that will primarily service Benton and Washington counties. It initially will occupy 10,000 SF of the 14,000-SF building, with the remainder reserved for future expansion.

“We are expecting in one to two years to build two more offices in that area,” Niec said.