The History of Coldwell Banker Commercial
The roots of Coldwell Banker Commercial® date back to 1906 when Colbert Coldwell played a key role in rebuilding San Francisco after a devastating earthquake and fire. Having witnessed his real estate contemporaries take advantage of the tragedy by acquiring property from vulnerable sellers at unfair prices, he dedicated himself to providing an honest and knowledgeable alternative, imbuing his transactions with honesty and vision on behalf of his clients. Later joined by Benjamin Arthur Banker, the two partners established a company committed to commercial real estate.
Over the next several decades, Coldwell Banker Real Estate Corporation (CBREC) embarked on a nationwide expansion to become the dominant commercial real estate company across America. In 1937, CBREC began to provide residential real estate services to become a full-service real estate company. In 1989, Sears, Roebuck & Co. sold the commercial division of Coldwell Banker to a group of managers currently known as CBRE (CB Richard Ellis). As a result of the purchase, the entities entered into a non-compete agreement.
In 1996, Coldwell Banker was acquired by HFS, Inc. (now Cendant Corporation, NYSE: CD) and became part of the world’s largest real estate franchise organization. In 1998, Cendant expanded the CBCSM brand under both an affiliate and company-owned business model. The affiliate company quickly grew in secondary and tertiary markets, and is currently concentrating expansion efforts in major markets. The brand development has resulted in CBC being one of the top globally recognized commercial real estate entities.
Today, CBC has more than 500 offices and over 4,000 sales professionals in more than 27 countries, from Australia to Venezuela, that help to provide the largest geographic footprint of any commercial real estate organization.