CBRE hires away Transwestern unit in New England
In an unusual bit of mass-recruiting, CBRE has hired away a 48-person team of commercial real estate pros from Transwestern to boost its already robust New England operation.
Led by Steve Purpura, the team is the descendant of an independent company that joined Transwestern several years ago. It handles all classes of commercial real estate, providing tenant advisory, agency leasing, and capital markets services.
CBRE spokesman Robert McGrath said the addition of the team was in no wise an acquisition. Each member was recruited individually and Transwestern was apprised of the recruitment as it was ongoing.
Purpura’s unit completed more than 9.1 million sq. ft. in leasing transactions in Massachusetts during 2017, making it the region’s third-largest commercial real estate operations, according to a ranking by the Boston Business Journal.
“These individuals are among the Northeast’s most talented real estate professionals and their passion for producing exceptional client outcomes is a perfect fit with our market-leading CBRE/New England team,” said Jack Durburg, group president and CEO of the Americas at CBRE.
CBRE’s Boston-based operation, which is a 50-50 joint venture with an unnamed partner, currently includes more than 450 employees.
Transwestern issued a statement wishing well to Purpura and his team and affirming its commitment to the New England region.
“Transwestern is an expanding national company. We continue to add producers from coast to coast. We are confident in our growth strategy which enjoys substantial momentum,” the statement read.
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Led by Steve Purpura, the team is the descendant of an independent company that joined Transwestern several years ago. It handles all classes of commercial real estate, providing tenant advisory, agency leasing, and capital markets services.
CBRE spokesman Robert McGrath said the addition of the team was in no wise an acquisition. Each member was recruited individually and Transwestern was apprised of the recruitment as it was ongoing.
Purpura’s unit completed more than 9.1 million sq. ft. in leasing transactions in Massachusetts during 2017, making it the region’s third-largest commercial real estate operations, according to a ranking by the Boston Business Journal.
“These individuals are among the Northeast’s most talented real estate professionals and their passion for producing exceptional client outcomes is a perfect fit with our market-leading CBRE/New England team,” said Jack Durburg, group president and CEO of the Americas at CBRE.
CBRE’s Boston-based operation, which is a 50-50 joint venture with an unnamed partner, currently includes more than 450 employees.
Transwestern issued a statement wishing well to Purpura and his team and affirming its commitment to the New England region.
“Transwestern is an expanding national company. We continue to add producers from coast to coast. We are confident in our growth strategy which enjoys substantial momentum,” the statement read.
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