Colliers International

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Colliers International
IndustryReal estate
HeadquartersToronto, Ontario
Area served
Key people
ProductsReal estate investment, brokerage & management
Number of employees
Colliers for lease sign in North America

Colliers International is a Canada-based global commercial real estate services organization with approximately 15,000 employees in more than 400 offices in 68 countries.[1]

The firm provides services to commercial real estate users, owners, investors and developers; they include consulting, corporate facilities, investment services, landlord and tenant representation, project management, urban planning, property and asset management, and valuation and advisory services. The organization serves the hotel, industrial, mixed-use, office, retail and residential property sectors.[2]

The firm has headquarters in Toronto, Ontario. Annual revenues are over $3.5 billion.[3] In June 2015, it was announced that Jay S. Hennick was appointed Chairman and Chief Executive Officer.[4]


Ronald Collier and Associates commenced trading in Australia in 1967, having received an appointment to carry out a strategic review of the National Australia Bank's Melbourne properties. In 1970, three separate firms commenced trading in the cities of Adelaide, Melbourne and Sydney. The eight principals involved had each known each other as former employees of Jones Lang Wootton; they traded as the Collier Group beginning September 1976. On May 18, 1979, Colliers International Pty Ltd was registered.[citation needed]

In 1985, American and Canadian firms joined Colliers international, and by 1986, its Asia-Pacific operations had reached 20 markets. In 1990, the firm began to enter markets in central Europe and Latin America. In 1991 the firm Jardine Matheson purchased 50% of the Asia Pacific business and rebranded as Colliers Jardine. In 1997 Colliers Macaulay Nicolls was formed with 50% of the Asia pacific business by acquiring the shares of the original Australian shareholders.[citation needed]

In 2004, FirstService Corporation invested in Colliers Macaulay Nicolls, the predecessor of FirstService REA and the largest member of Colliers International. FirstService REA subsequently invested in several North American-based firms with operations in various commercial real estate service specialties.[5] Among these were:

  • PGP Valuation Inc.: A commercial and industrial real estate appraisal firm with 250 associates worldwide.[6]
  • PKF Hotel and Hospitality Consulting: PKR, an association of independent firms in hospitality consulting.[7] This investment (PKF Consulting USA) was later sold to CBRE Group in July 2014.[8]
  • MHPM Project Leaders: In 2007, Colliers Macaulay Nicolls acquired a majority interest in Canada's largest project management firm, MHPM Project Managers.[9]

Stephen Harper, Canada's former Conservative Prime Minister, is on the company's board.

Geographically-based investments[edit]

Several geographically-based investments from the early 2010s include:

  • New York City: (September 2008): Colliers International's subsidiary FirstService purchased a 65% interest in GVA Williams (formerly Williams Real Estate Co. Inc.)[10][11] The resulting entity, FirstService Williams, adopted the brand of Colliers International and today functions as the entity's "tri-state" hub (New York, New Jersey and Connecticut).[12] The office consists of more than 300 brokers.[12]
  • London (October 2009): Colliers International made a major investment in Colliers CRE, a London-based real estate services enterprise with offices in the UK, Ireland and Spain.[13][14] Colliers CRE subsequently rebranded as Colliers UK.
  • Chicago (April 2010): Colliers International completed a significant investment in one of Chicago's largest commercial real estate services firms, Colliers Bennett & Kahnweiler (Colliers B&K), which became the enterprise's Midwestern regional hub and operates as Colliers International.[15]

Other expansions[edit]

Other expansions include:

  • Cincinnati, Ohio (April 2010): The firm added one of Cincinnati's largest commercial real estate firms, West Shell Commercial.[16]
  • Nashville, Tennessee (April 2010): The Nashville commercial real estate brokerage firm NAI Nashville joined the firm [17]
  • Columbus, Ohio (May 2010): Commercial real estate firm Adena Commercial ended its ten-year relationship with Grubb & Ellis to affiliate with Colliers International, effective May 1, 2010.[18]
  • Grand Rapids, Michigan (May 2010): Grubb & Ellis Paramount Commerce, one of West Michigan's largest commercial real estate brokerages, changed its affiliation to Colliers effective May 1.[19]
  • Long Island, New York (June 2010): The firm added Sutton & Edwards, based in Lake Success and Ronkonkama. Founded in 1962, the firm provides office, industrial, retail, land, medical office and investment property brokerage services.[20]

In April 2010, Colliers and FirstService Real Estate Advisors combined their operations and global real estate services platforms, and began operation under the unified brand of Colliers International.[21]

In June 2015, Colliers International and FirstService Corporation announced the completion of their separation into two independent, publicly traded companies – Colliers International Group Inc. and FirstService Corporation.[22][better source needed]

In October 2017, Colliers International acquired Serten Advisors, LLC; a boutique tenant representation firm headquartered in the Washington, DC area.[citation needed]

In September 2019, Colliers International acquired a top Indian PMC, Synergy Property Development Services to create a Top Tier Player in India.

In December 2019, Colliers International acquired certain divisions of Doughtery Financial based in Minneapolis. [23]

Business model[edit]

According to CoStar, the firm utilizes a "partnership model...- an entrepreneurial, locally-grounded company combined with the strength, reach, accountability and versatility of a global firm". FirstService REA, formed by property services firm FirstService Corp. in 2005 after buying Colliers International's largest affiliate, now owns about 70% of Colliers International globally, and retains worldwide rights to the Colliers International name. The remainder of equity in Colliers is retained by local market partners." [24]

In 2010, amid a global, industry-wide consolidation among commercial real estate brokerages, industry watchers have noted the Colliers International expansion has run counter to this[clarification needed] trend.[25][26]

Financial results[edit]

Colliers International ranked 2nd of the top twenty-five brokerages in the global real estate industry, based on its combined dollar value of leasing transactions and investment sales globally in 2009, $53.8 billion.[27] The survey also found that Colliers International had posted an increase of more than 28 percent over its 2008 ranking, when it conducted leasing transactions and investment sales volume totaling $42 billion and ranked fifth.

In March 2010, the annual Lipsey Survey of the top 25 brands in the commercial real estate industry worldwide ranked Colliers International in the second position. The firm had held the third-place position in that survey since 2004, after rising from sixth place in 2002 to fourth in 2003.[28]

See also[edit]


  1. ^ "Colliers International to spin off as publicly traded company - Puget Sound Business Journal". Puget Sound Business Journal. Retrieved 2015-05-21.
  2. ^ "Industry Experts Who Collaborate and Deliver". Colliers International. Retrieved September 25, 2017.
  3. ^ "Reshaping a Global Giant." Archived 2011-07-08 at the Wayback Machine Commercial Property Executive. June 2010.
  4. ^ "Jay S. Hennick Appointed Chairman & Chief Executive Officer of Colliers International Group Inc". GlobeNewswire. GlobeNewswire.
  5. ^ Maurino, Romina (January 30, 2007). "FirstService Raises Forecast, Eyes Acquisitions." Toronto Star.
  6. ^ "Appraisers Join FirstService Family." Real Estate Weekly. November 18, 2009.
  7. ^ "Property services firm FirstService buys 80% stake in PKF Consulting, 60% of MHPM." The Canadian Press. Archived September 2, 2010, at the Wayback Machine January 22, 2007.
  8. ^ "The acquisition of PKF Consulting USA, LLC, a leading advisory, consulting and research firm specializing in the lodging industry, significantly strengthens CBRE's objective of becoming the top global intermediary in hospitality services." Hospitality Net. July 17, 2014.
  9. ^ "FirstService buys interest in PKF, MHPM." Canada Stockwatch. January 22, 2007.
  10. ^ Agovino, Theresa (September 16, 2008). "Majority stake in GVA Williams sold". Crain's New York.
  11. ^ "History of GVA Williams". Real Estate Weekly. October 12, 2005.
  12. ^ a b "Expanding Colliers Launches Talent Search." Real Estate Weekly. May 5, 2010.
  13. ^ "FirstService Rides in to Support Colliers CRE." Property Week. October 9, 2009."
  14. ^ "FirstService Real Estate Invests in Colliers CRE." Real Estate Weekly. October 21, 2009.
  15. ^ Corfman, Thomas A. (April 19, 2010)."Colliers Bennett & Kahnweiler sells minority stake." Crain's Chicago Business.
  16. ^ "West Shell Commercial joins Colliers." Business Courier of Cincinnati. April 27, 2010.
  17. ^ "Colliers International Returns to Nashville." The Tennessean. April 23, 2010.
  18. ^ "Real-estate Offices are Realigning." Columbus Dispatch. April 19, 2010.
  19. ^ "Commercial Real Estate brokerage Changes Affiliation." Grand Rapids Press. April 27, 2010.
  20. ^ "Colliers Rebrands Long Island Firm." The Real Deal. June 14, 2010.
  21. ^ "Colliers International Integrates Services Under a Single Brand" (Press release). Colliers International. April 21, 2010. Archived from the original on April 24, 2010 – via PR Newswire.
  22. ^ "Colliers International Becomes an Independent Public Company". GlobeNewswire News Room. Retrieved 2015-12-05.
  23. ^ {{Cite web|title = Colliers to acquire Doughtery Financial units with 250 employees|website = Minneapolis/St. Paul Business Journal|access date = 12-23-2019
  24. ^ "Industry Takes Stock of Shifting Landscape in Wake of Colliers, Cassidy Rebrandings." CoStar. January 13, 2010.
  25. ^ "Commercial Firms Fight Back in a Post-Boom World." New York Times. June 15, 2010.
  26. ^ "Colliers Plays the Offense." Real Estate Forum. April, 2010.
  27. ^ "Top 25 Brokerages." Archived 2010-12-16 at the Wayback Machine National Real Estate Investor. April 1, 2010.
  28. ^ "2010 Top Commercial Real Estate Brands Survey." The Lipsey Company.

External links[edit]