Commercial real estate giant CBRE (once known as CB Richard Ellis) is the third international/national commercial real estate firm this year to make a mark in the Treasure Valley.
CBRE on Nov. 1 opened its first Idaho office in downtown Boise to specialize in valuations and appraisals of Treasure Valley properties on behalf of clients across the country, many of them banks and real estate investment trusts, said Jeff Grose, senior managing director of CBRE Valuation & Advisory services’ Pacific Northwest region in Portland..
“We’re not a brokerage or property manager at this time,” Grose said. “Our clients are trying to make decisions on assets in Boise.”
The one-person Boise office will be run by Mike Prior, who previously was an appraiser at RCS Appraisal Inc. in St. George, Utah.
CBRE has more than 1,900 valuation professions in 300 offices worldwide that do more than 470,000 real estate valuations a year.
International commercial real estate firm NAI Global earlier this year teamed up with two local brokers to establish NAI Select, and Salt Lake City-based Coldwell Banker Commercial Advisors this year increased its Boise office square footage five-fold.