Trammell Crow Company Announces Acquisition of Phoenix Corporate Services; Expansion of Outsourcing Business.DALLAS, Texas--(BUSINESS WIRE)--July 1, 1999-- Trammell Crow F. Trammell Crow (born June 11, 1914, in Dallas, Texas) is an American property developer who created several famous projects, including Dallas Market Center, Peachtree Center (Atlanta, Georgia), and San Francisco's Embarcadero Center. Company (NYSE NYSE See: New York Stock Exchange : TCC TCC The Car Connection (web site) TCC Tidewater Community College TCC Tallahassee Community College TCC Temporary Continuation of Coverage TCC Tucson Convention Center (Tucson, AZ, USA) ), one of the nation's largest diversified commercial real estate services companies, today announced that Trammell Crow Corporate Services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. , Inc., its outsourcing subsidiary, has acquired the assets of Phoenix Corporate Services LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and a related entity. Phoenix, based in Cambridge, Massachusetts This article is about the city of Cambridge in Massachusetts. For the English university town, see Cambridge, England. For other places, see Cambridge (disambiguation). Cambridge, Massachusetts is a city in the Greater Boston area of Massachusetts, United States. , provides comprehensive real estate outsourcing services to major corporations and higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. institutions. Phoenix's 31 customers include Bayer Corporation, Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. , CVS/pharmacy, Hewlett Packard, MediaOne, Nortel Networks (Nortel Networks Limited, Brampton, Ontario, www.nortelnetworks.com) A world leader in telecommunications products, which includes switching, wireless and broadband systems for service providers and carriers, telephones and systems for residential and business users, computer telephony , Emerson College Emerson College was founded in 1880 by Charles Wesley Emerson as a "school of oratory," in Boston, Massachusetts. Emerson's main campus is located near the Boston Common, at the gateway to the Theatre District; it also maintains buildings in Los Angeles and the town of Well, , Harvard Institutes of Medicine and Regis College. In addition to expanding Trammell Crow Corporate Services' outsourcing business and strengthening its presence in the higher education market, the acquisition enhances Trammell Crow Company's position as the leading provider of real estate services in New England. Phoenix provides commercial real estate outsourcing services, pursuant to long-term contracts, for over 51 million square feet of space. Its operations include a state-of-the-art call center in Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. that handles customer service requests using high technology solutions. Approximately half of Phoenix's 280 employees are located in Massachusetts with the remainder located in 12 other states. Substantially all of Phoenix's employees are expected to be retained following the acquisition. John T. Killian, Chief Executive Officer of Phoenix Corporate Services, will become an Executive Vice President of Trammell Crow Corporate Services with responsibility for New England operations. James C. Ricker, President of Phoenix, and Daniel J. Coughlin, Senior Vice President of Phoenix, will both become Senior Vice Presidents of Trammell Crow Corporate Services. The total purchase price for the acquisition, including contingent future payments and non-compete payments, was approximately $19.1 million. Approximately $4.9 million of the purchase price was payable in shares of Trammell Crow Company common stock. Commenting on the combination, Bill Concannon, President and Chief Executive Officer of Trammell Crow Corporate Services, stated: "We are delighted to have Jack Killian and his team join us at Trammell Crow Corporate Services, as we continue on our mission to expand the premier outsourcing business in the real estate services industry. Phoenix has grown rapidly, with great customers, as a result of the quality of its management team and their commitment to outstanding customer service. Phoenix will be an outstanding fit with our existing operations, and their outsourcing customers are a nice complement to the industry leaders that we currently serve. "Taken together with our 1998 acquisition of Fallon, Hines & O'Connor, the acquisition of Phoenix Corporate Services gives Trammell Crow Company the largest presence of any full service real estate services firm in New England, with over 350 New England employees in our five lines of business." Jack Killian stated: "We have been extraordinarily fortunate in the development of our business over the past two years. We have had the strength and support of Phoenix Home Life that has made our spectacular growth possible. We have some of the best professionals in our industry at all levels of our company, and now we will become part of TCCS TCCS Trace Contaminant Control System TCCS Tactical Command and Control System TCCS Technical Committee on Communications Systems (AIAA) TCCS Theater Command and Control System TCCS Trammell Crow Corporate Services , the unquestioned national leader in our industry. "We are truly excited about our combination with TCCS; it is a terrific opportunity for our people and our clients. TCCS and PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. share the innovative culture and vision required to capitalize on the unlimited opportunities to provide comprehensive real estate outsourcing services to many of the most respected companies in the world. "TCCS provides our customers and employees with the platform that will enable us to reach the next level of excellence; we are all excited to move forward as a part of the TCCS organization." Founded in 1948, Trammell Crow Company is one of the largest diversified commercial real estate services companies in the United States. Through 150 offices in the United States and Canada, Trammell Crow Company is organized to deliver a comprehensive range of five core service offerings, including property management services, retail services, outsourcing services, development and construction services, and brokerage services, to its clients. Clients include leading multinational corporations, institutional investors and other users of real estate services. Trammell Crow Corporate Services, Inc. is a leading outsourcing services firm dedicated to creating innovative real estate solutions for corporate, healthcare, and higher education clients. Trammell Crow Corporate Services offers clients a diverse menu of real estate services including, facilities (property) management, project management and facility planning, transaction services, strategic services, office services, portfolio administration, service management, and development services. TCCS is a wholly-owned subsidiary of Trammell Crow Company. |
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