Colliers International Bolsters Tri-State Operations With Prominent Long Island Firm

Jun 14, 2010, 09:30 ET from Colliers International

- Local leader Sutton & Edwards Becomes Colliers International -

NEW YORK, June 14 /PRNewswire/ -- Securing its stronghold presence in the New York Tri-State region, Colliers International has expanded into the Long Island market with the addition of Sutton & Edwards. The leading Long Island firm will now operate as part of the Colliers International New York Tri-State hub and adopt the Colliers International name and branding. This expansion further cements Colliers International's status as the region's premiere real estate services organization, with offices in Manhattan, Connecticut, New Jersey and Long Island.

"Sutton & Edwards is the premiere Long Island real estate services firm. Bringing them under the Colliers International umbrella is a tremendous coup for us," said Mark Jaccom, CEO of the Tri-State Region. "Not only does this signal to the marketplace that we have a dominant presence throughout the entire region, but we also have the talent, infrastructure and reach to service our clients at the highest levels of professional excellence."

Founded in 1962, and with offices in Lake Success and Ronkonkoma, the Long Island firm is a leading provider of office, industrial, retail, land, medical office and investment property brokerage. With 2.5 million square feet under management, it represents a combined 8 million square feet of industrial and office space. The firm also provides tenant/buyer representation, landlord advisory services, consulting/advisory services, incentive procurement and build-to-suit services.

Prominent clients include GE Capital, Prudential Life Insurance, MSC Industrial Supply Co., State Farm Insurance, North Shore Long Island Jewish Health Systems and HRPT Properties Trust, among others.

"Sutton & Edwards has consistently provided our clients with the highest level of service quality in the Long Island marketplace," said Herb Agin, CEO of Colliers International Long Island. "By becoming part of a centrally operated and financially secure firm with a best-in-class services platform, our existing and new clients will immediately benefit from the move." No changes to management or other personnel will occur as a result of its change to Colliers International.

With a population of approximately 3 million and a 300 million-square-foot real estate market, Long Island would rank among the largest cities in the United States. "Overnight we have put our stamp on a critical real estate market flush with opportunity," Jaccom added. "There is incredible synergy between us. Herb Agin is a trusted friend and mentor, and one of the sharpest business minds I know. The Long Island offices will fit seamlessly into the Colliers International family."

The Sutton & Edwards addition to the Colliers International platform is the latest in a series of expansions throughout the country, with new offices recently added in Chicago, Cincinnati, Columbus, Grand Rapids and Indianapolis.

"Colliers International is quickly becoming the market leader in the New York Tri-State region, and the Sutton & Edwards move to our platform marks yet another critical step towards that objective," said Dylan Taylor, Chief Executive Officer of Colliers International in the U.S.  "Sutton & Edwards professionals are well-known throughout the Long Island marketplace for their commitment to delivering quality services to their clients. With their tradition of service excellence, Colliers International has strengthened its market position within one of the largest and most important real estate markets on the East Coast."

The Long Island addition to the Colliers International Tri-State hub further points to a vastly altered commercial real estate services landscape. Earlier this year, Colliers International combined operations and global real estate services platforms with FirstService Real Estate Advisors. Colliers International is now the world's third largest real estate services firm, with 15,000 employees operating out of more than 480 offices in 61 countries and with revenues of nearly $2 billion.  

About Colliers International

Colliers International is the third largest commercial real estate services company in the world with 15,000 professionals operating out of more than 480 offices in 61 countries.  A subsidiary of FirstService Corporation (Nasdaq: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research.  The latest annual survey by the Lipsey Company ranked Colliers International as the second most recognized commercial real estate firm in the world.  

Contacts: Russ Colchamiro, Parke Chapman

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