CBRE Group Inc. announced Tuesday it bought Jacksonville-based Florida Valuation Group Inc.
The group will remain headquartered in Jacksonville. The commercial real estate appraisal firm specializes in right-of-way appraisal and litigation support related to eminent domain proceedings across Florida and the Southeast.
The group’s three principals, Nick Chop, Courtland Eyrick and Justin Markley, join CBRE as directors and will lead its right of way/eminent domain specialty practice in Florida and the Southeast.
A news release said the team has extensive commercial and litigation appraisal experience.
Chop has more than 25 years of real estate appraisal and consulting experience, Eyrick brings 18 years of experience and Markley has more than 11 years of experience.
The firm was formed in Jacksonville in 1982 and rebranded in 2015 to Florida Valuation from Valbridge Property Advisors/Broom, Moody, Johnson & Grainger Inc.
“Adding Florida Valuation’s talented professionals and their well-established expertise in right-of-way appraisals enhances our ability to deliver exceptional outcomes for clients facing eminent domain situations,” said Thomas McDonnell, Americas President of CBRE Valuations, in the news release.
Los Angeles-based CBRE Group Inc. says it is the world’s largest commercial real estate services and investment firm based on 2018 revenue.
CBRE offers facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
That includes appraisal, property condition, market studies, feasibilities, underwriting due diligence, environmental, zoning and telecommunication consulting services for local, regional and global clients.
It has a professional staff of more than 1,700 appraisers, engineers, architects and environmental scientists in more than 300 global metro areas globally.