Coldwell Banker Commercial Principals Acquire, Re-Brand Salt Lake City Office
By Alex Girda, Associate Editor
The Salt Lake City office of Coldwell Banker Commercial was recently acquired by a group of private investors from NRT L.L.C. The acquiring partnership, which includes agents Brandon Fugal, Tim Simonsen and Stuart Thain, has also recruited Lew Cramer, the founder and chief executive officer of the World Trade Center Utah, as its CEO.The company will bear the name Coldwell Banker Commercial Intermountain and will add a strong international business development initiative as a centerpiece of its strategy.
Cramer was brought in mainly due to his leadership of the World Trade Center Utah, which is credited with helping to boost export growth in the state. During the past decade, Utah was the only state to record year-over-growth. Last year Utah tallied $19 billion worth of exports.
Cramer will be joining an office with a strong track record. Coldwell Banker’s Salt Lake City office has enjoyed an 11-year run as the company’s number one office globally. The office represents such high-profile properties as Cinemark Theaters, RiverPark, Thanksgiving Park, Traverse Mountain and Cabela’s. Fugall is the top-rated agent for Coldwell Banker; last year his leasing volume totaled more than 1 million square feet for 2012.