Grubb & Ellis Adds Appraisal Division
by June 27, 2011 12:00 am 136 views
The local presence of Grubb & Ellis Co. is six months into an addition that representatives believe will give the company added strength in the marketplace.
Grubb & Ellis-Solomon Partners, an affiliate of the national company with Arkansas offices in Bentonville and North Little Rock, added the appraisal division Grubb & Ellis-Landauer Appraisal on Jan. 1.
The launching of the new appraisal and valuation business makes Grubb & Ellis the only national brokerage platform in Arkansas that also has appraisal services, said Clinton Bennett, a managing partner in Bentonville.
CB Richard Ellis Inc., with offices in Little Rock and Fayetteville, has the appraisal office but not a brokerage platform.
Curtis Smith and Joshua Smith, MAI, are the senior appraisers at the Bentonville location.
“The thing that is appealing to us as brokers is working in real time,” Joshua Smith said. “The data that we see is real-time data, whereas appraisers have typically worked with historical data. These are separate businesses, but the data generated by the brokerage houses is more robust data and helps give the appraisal group a better understanding of the commercial real estate market.”
Grubb & Ellis entered the appraisal and valuation business on a national scale in June 2010, and has since opened more than 30 offices in markets throughout the country, led by approximately 140 appraisers.
Grubb & Ellis acquired Landauer & Associates in 1999.