Wednesday, April 29, 1998 | 10:28 a.m.
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Stuart Mixer Commercial has thrived as a commercial real estate company in Southern Nevada for six years.
Boston-based Colliers International Inc., has more than 5,500 associates in more than 215 offices from Oakland, Calif., to Aukland, New Zealand.
Their marriage announced Tuesday is being viewed as an all-sides-win scenario that will give the worldwide giant a presence in the Las Vegas Valley while local principals James Stuart and Mike Mixer get access to a global network of resources while they maintain autonomy in their business deals.
Stuart and Colliers International U.S.A. Chairman J.R. Parrish on Tuesday explained the deal.
It blends the 40-employee Stuart Mixer staff that reported annual sales and lease transactions of more than $140 million with the giant that took in more than $678 million in revenue on more than $20 billion in sales in 1997.
In 1996, Stuart Mixer Commercial began managing property and has a portfolio of more than 1.6 million square feet of commercial land.
Financial details of the transaction involving the privately held companies were not disclosed. The company will continue to operate from the Wells Fargo Tower in the Howard Hughes Center.
Stuart Mixer's affiliation with Oncor International, an association of independent commercial real estate brokers, ended with the signing of the deal.
"The emotion of seeing my name removed from the door is replaced by the increased enthusiasm we all have in continuing our pursuit of market leadership," Stuart said in remarks prepared for a press briefing. "Additionally, we have now, a unique opportunity to create owners out of every broker and employee at this firm. Stuart Mixer Commercial is more about its people than ever before."
Although Stuart may see his name removed from the door, he and his partner will continue to be the key decision-makers in what eventually will be known as Colliers International. For a few months, receptionists will answer the phone, "Colliers Stuart Mixer."
Stuart and Mixer will become major stockholders in the parent corporation and will be joined by Michael DeLew, Thomas van Betten, Thomas Stillen and Jack Mckeown as representatives on a local board of directors.
Stuart said no staff changes are anticipated and the office would continue to sponsor two high-profile public events, December's Real Trends conference projecting the direction of Southern Nevada's real estate market, and the Links for Life charity golf tournament.
Parrish said Colliers routinely allows local executives to run their own offices and he said the company has not intervened in a local deal.
"Business is done differently in Houston and Las Vegas than it is in New York City," Parrish said.
Parrish said Colliers initially approached Stuart Mixer about the merger and was drawn to the company's technological capabilities. Dave Schmidt, president of Colliers' Silicon Valley office, also was on hand for the announcement and is handling the transition.
"Needless to say, our company has been ground zero for every national real estate firm eyeing Southern Nevada," Stuart said. "When he (Parrish) began sharing his vision of the global brokerage company of the future, we thought he must have been reading directly out of our own playbook. The connection was easy, the value was obvious."
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