CHICAGO, Jan. 22, 2016 /PRNewswire/ -- An organization of exclusive tenant representatives is cautioning business owners to reconsider who represents their interests in the wake of mergers and buy-outs of tenant representation firms by large corporate commercial real estate companies.
"Mergers and sales, such as those with DTZ/TPG/Cushman & Wakefield and Newmark Knight Frank/Grubb & Ellis, may significantly influence how brokers in those companies search for, and recommend, space options," says Michael Coretz, principal of Commercial Real Estate Group of Tucson / ITRA Global. "These mergers and buyouts will create an environment where the increased push for shareholder return will influence internal policy.... and not necessarily in a way that promotes the client's best interests."
Coretz explains in his website blog that after a merger or buyout, a business owner's existing commercial real estate broker may be forced into such practices as recommending only properties that are listed with the new company. "Even tenant representation firms, whose sole focus should be on the tenant or buyer, may have to adjust their philosophy to fit better in the new corporate order," he says.
ITRA Global provides strong local expertise and broad international coverage for corporate users who want the crucial benefits of exclusive tenant and buyer representation. "ITRA Global continues to grow organically and strategically by keeping with its mission, which is to represent only corporate tenants and users of commercial real estate across multiple markets," says Michigan Commercial Space Advisors / ITRA Global principal, Chris Atwater, and Chairman of ITRA Global.
"Consider shopping around if a broker is caught in a CRE company merger," Coretz advises. "You may end up retaining your current broker, but take a look at others to ensure you're getting the unbiased representation you deserve."
About ITRA Global
ITRA Global is an organization of real estate professionals specializing in representing commercial tenants and buyers in the leasing, acquisition and disposition of office, industrial and retail facilities. With coverage in major markets around the world, ITRA Global is one of the largest organizations dedicated to representing tenants and buyers of commercial real estate. Clients benefit by having an experienced professional as their trusted adviser, providing conflict‑free representation with total objectivity.
SOURCE ITRA Global