Marcus & Millichap expanding to R.I.

PROVIDENCE – Marcus & Millichap Real Estate Investment Services is ramping up to move its recently opened Little Compton office to Providence, the company’s regional manager said.
Gary Lucas said the local staff recently received a brokerage license to do business in Rhode Island, setting the groundwork for the national company to take a more aggressive role in the Ocean State. The local office will serve all of Rhode Island as well as Bristol County, Mass., Lucas said.
“It’s an active market,” Lucas told Providence Business News.
Billing itself as the largest firm specializing in commercial real estate investment services in the nation, Marcus & Millichap says it closed 3,441 transactions in 2009. Lucas said the company has opened 26 offices in the last three years. Its Little Compton office opened about a month ago. The company’s closest office to Rhode Island had been in Boston.
“We’ve kept marching forward and business is ticking up for a while,” Lucas said.
Marcus & Millichap Real Estate Investment Services is the largest firm in a family of real estate companies created by privately held Marcus & Millichap Co. Founded in 1971, Marcus & Millichap Company is based in Palo Alto, Calif.