Trammell Crow Company

There's still more fallout from the CB Richard Ellis-Trammell Crow Company merger. Jones Lang LaSalle has picked up an entire team of six from the old New York TCC. The team, led by veteran broker Jim Quinn, comes to JLL after CBRE bought Trammell last December.

CBRE wasn't exactly jumping at the chance to extend offers to New York's TCC brokers. The company deliberated for over a month and gave offers to fewer than half of the team of 24, according to inside sources.

Some left just because they didn't want to work at 200 Park Avenue. As The Observer first reported, broker Bob Hackett got an offer but decided to go to Jones Lang LaSalle anyway.

And now he'll be joined by six of his former colleagues.  read more »

Full release after the jump.

- John Koblin

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CB Richard Ellis announced Tuesday morning that it will purchase Trammell Crow for $2.2 billion.

CBRE already has more than 200 brokers -- the most in New York -- and now picks up 24 more from Trammell Crow, which has the 15th most brokers in the city, according to October 2006 statistics from the Real Deal.

The move offers a richer caveat: the acquisition now makes the firm Fortune 500 eligible -- the first commercial real estate firm in the country that can make that claim.

CBRE officials said the acquisition was apart of a broader plan to define the firm as the elite brand in the city.

"Well targeted acquisitions have played a pivotal role in our strategy," said Brett White, the CBRE CEO.

- John Koblin