Coldwell Banker to Close Waterfront and Somerville Offices

Coldwell Banker to CloseDoes anyone care? I actually just drove by the office on the Waterfront. It's a block down from Joe's American Bar & Grill. Maybe they are facing too much competition on the Waterfront from Otis & Ahearn which is a couple doors down? This economy does not help as it is much more difficult to close deals.

The Boston waterfront and Somerville offices of Coldwell Banker Residential Brokerage are set to close by the end of the month, Banker & Tradesman has learned. The Boston office’s 24 agents will move to other local offices, including the Back Bay, while Somerville’s 15 agents will move to the company’s Cambridge and Arlington locations. Three administrative positions will be terminated, two in Somerville and one in Boston, according to Roni Boyles, Coldwell Banker’s director of corporate communications.

The waterfront office, located at 113 Lewis Wharf, is scheduled to close Nov. 28. A source in the Somerville office confirmed the branch’s closing would occur “by the end of the month.”