Coldwell Banker Realty reenters Hawaii commercial real estate

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One of the largest residential real estate companies in Hawaii is getting back into commercial real estate brokerage.

Coldwell Banker Realty, a Hawaii subsidiary of Realogy Holdings Corp., said it re-entered the commercial real estate market through the formation of Coldwell Banker Commercial Realty under the direction of longtime local real estate agent James Wright, who is keen to bring more agents into operation .

“There is definitely a need,” said Wright. “We want to enlarge the footprint and get it going.”

A commercial brokerage business under the Coldwell Banker franchise brand has an intermittent history in Hawaii for the past few decades.

One such operation was founded in 1986 and later went through a series of acquisitions and mergers that eventually resulted in CB Richard Ellis, now known as CBRE.

In 1998, Coldwell Banker Pacific Properties acquired local commercial real estate company Wagner & Wagner Inc. and established Coldwell Banker Commercial Pacific Properties. This company operated until about three years ago.

The new company will operate out of the Diamond Head Kahala office of Coldwell Banker Realty, with Wright serving as the main agent. Wright was previously a co-owner of Century 21 All Islands Fine Homes & Estates, which had four offices and approximately 150 agents on Oahu and was acquired by Coldwell in 2017.

Mike James, president of Coldwell Banker Realty, said in a statement that the new commercial real estate business will benefit from being linked to Coldwell’s technology and marketing assets, while promoting commercial listings with the company’s approximately 700 agents who share such information with clients can share.