RICHMOND, Va. — After abruptly losing its national flag and watching one-third of its brokers jump ship, a longtime local commercial real estate firm is winding down.
Harrison & Bates announced Friday its plans to cease operations in the coming months. That includes a halt on new transactional services as of May 31.
The decision will bring an end to a Richmond company that dates to 1910 and will leave about a dozen brokers with decisions to make on where they’ll go next.
“It’s a hard moment for all of us,” said Harrison & Bates CEO David Williams, who has been with the firm for about 30 years. “There was a fork in the road and we had to pick what was the best for our clients.”
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