CBRE buys Greenville-based The Furman affiliate

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CBRE Group Inc. recently acquired the commercial real estate brokerage, investment property sales and property management services business of The Furman Co. Inc.and certain of its affiliates.

The brokerage, investment property sales and property management business, which is based in Greenville, South Carolina, has served as CBRE’s affiliate in Upstate South Carolina and has operated as CBRE | Furman since 2010.

The acquisition enhances CBRE’s ability to serve clients across the region, adding 18 sales and leasing professionals along with other staff as well as 4.5 million sq. ft. of office, retail and industrial property under management.

Following the acquisition, the CBRE | Furman business will now operate as CBRE.

The Furman Co., a 125-year-old firm, will retain ownership and control of its development, investment advisory and risk management/insurance agency businesses. These businesses, which will not be purchased by CBRE, will continue to operate independently under The Furman Co. brand and will be led by Steve Navarro, who will also remain affiliated with CBRE in a consulting capacity focused on CBRE client service.

Steve Smith, managing principal of CBRE | Furman, will join CBRE as managing director of its operations in South Carolina.

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