EAST LANSING — Martin Commercial Properties Inc., an East Lansing-based commercial real estate brokerage with a Grand Rapids office, will end its 20-year affiliate relationship with CBRE Inc. at the end of this year.
The firm, which has long operated as CBRE|Martin, made the decision as the Los Angeles-based commercial real estate giant winds down its affiliate program, according to Van Martin, chairman and CEO of Martin Commercial Properties.
“The reality is that CBRE has been moving away from the affiliate model for years,” Martin told MiBiz on Tuesday morning, adding that all operations and support systems used by the firm have been independent throughout the relationship and that the decision to split was done amicably.
Martin said he expects minimal disruption for clients as the firm undergoes the transition.
Indeed, earlier this month CBRE announced that it was cutting ties with its Virginia affiliate brokerage, according to a report in Virginia Business.
Martin said he expects his firm and CBRE will continue to have a positive working relationship and that both will refer clients to each other.
CBRE, said to be the world’s largest commercial real estate services and investment firm, will maintain a wholly-owned corporate office in the metro-Detroit area, according to a statement.
“CBRE thanks Van Martin and the firm’s professionals for their dedication and efforts in serving clients,” John Latessa, CBRE’s Midwest regional president, said in a statement. “We wish them continued success.”