As it prepares to cut ties with its Virginia affiliates, CBRE is laying the groundwork for the company’s next chapter in the state.
On Tuesday, Los Angeles-based CBRE Inc. announced it had tapped long-time CBRE executive James “Jim” A. Reid to temporarily oversee the global company’s ramping up of operations in Virginia. Reid’s work will begin in January, after CBRE Inc. and its Virginia affiliate CB Richard Ellis of Virginia Inc. separate their businesses on Dec. 31.
"We have had affiliate relationships in the past, but our business model is whole ownership, full accountability,” Reid says. “We intend to bring that to full bear in Virginia."
