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Boutique -vs- Behemoth

Published Thursday, April 01, 2004

When CB Richard Ellis acquired Insignia Financial Group last summer, the heavily publicized deal brought together two of the nation's largest commercial brokerages under one roof. It was billed as a watershed event for CBRE, which already held the title as the nation's biggest real estate services firm. Though it was a merger of giants — their combined revenues in 2003 were $1.6 billion — the U.S. brokerage industry remains highly fragmented, with no lone firm commanding more than a single-digit share of the national transaction business. While the key metro markets such as New York City and ...

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