» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 129 | NO. 71 | Friday, April 11, 2014

Cates, Kornegay Take Majority Stake in Colliers’ Memphis Office

By Amos Maki

Print | Front Page | Email this story | Email reporter | Comments ()

Two longtime members of Colliers International's Memphis office have taken a majority stake in the real estate company.

Andy Cates, executive vice president of brokerage, and Brad Kornegay, CEO of Colliers Management Services LLC, are now the majority shareholders in the two legal entities that make up the Memphis office.

“This is just the official passing of the torch to Andy and Brad, who have both been partners and actively involved in leadership for a number of years,” said president Gene Woods in a statement. “We’ve always seen the need for succession planning and have known for quite some time that these two highly capable individuals represented the future of our company.”

Woods, Dan Wilkinson and Bayard Snowden were the second generation of leadership at the company founded in 1946 as Colliers Wilkinson by Wilkinson’s uncle, Russell Wilkinson, and Snowden’s father, Robert Snowden.

Woods, Wilkinson and Snowden will remain involved with the company for the foreseeable future. Woods will remain involved in the operations of the brokerage office, while Kornegay will continue as CEO of Colliers Management Services.

Cates, who joined Colliers in 1998 and became a partner in 2005, said Colliers, a major player in the local industrial real estate sector for decades, will seek to increase its presence in the retail and office sectors.

“A couple of years ago, we began growing our office and retail presence, and we’d like to see those sectors become as successful as our industrial real estate practice,” Cates said.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 32 344 10,222
MORTGAGES 52 452 13,327
FORECLOSURE NOTICES 30 106 2,644
BUILDING PERMITS 0 783 24,307
BANKRUPTCIES 60 359 9,892
BUSINESS LICENSES 23 133 3,736
UTILITY CONNECTIONS 76 595 14,558
MARRIAGE LICENSES 23 104 3,167

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.