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Commercial real estate brokerage firm CBRE Group Inc. is absorbing local commercial property appraisal firm The Hallstrom Group.
Financial terms of the deal were not disclosed.
The transaction will result in Hallstrom’s 13 staffers joining CBRE, giving CBRE more resources and marking an end to the appraisal firm established in Honolulu by Jim E. Hallstrom Jr. in 1980.
Hallstrom’s firm provides services including real estate valuation, consulting, market studies, legal support and tax appeal assistance.
CBRE said Hallstrom will join with the company’s team of 56 appraisers based in Southern California.