Crye-Leike Opens Franchise Office in Cookeville, Tenn.

Nashville, Tenn. – Crye-Leike, the nation’s 10th largest real estate company and the largest serving Tennessee and the Mid-South, has opened a franchise office in Cookeville, Tenn., one of 18 offices to join Crye-Leike’s franchise network.

Crye*Leike of Upper Cumberland is located at 1400 Neal Street in Cookeville, the county seat of Putnam County. Its sales associates will specialize in relocation and in marketing residential properties, commercial investment properties, farms, land and auctions to buyers and sellers in Putnam, Overton, Cumberland and White counties.

Cookeville, population 26,000, is located 79 miles east of Nashville and 101 miles west of Knoxville at the intersection of Interstate 40 and Highway 111 in the Upper Cumberland Region of Middle Tennessee. Crye-Leike, Realtors has one other franchise office located in the Upper Cumberland Region in Crossville, Tenn., Cumberland County.

A grand opening is planned for Sat., August 21, 2004, with the ribbon cutting and dedication ceremony to be conducted by the Putnam County Cookeville Chamber of Commerce.

Crye*Leike of the Upper Cumberland is owned and operated by Mike Nichols, a retired police officer who served for 22 years with various governmental entities, including the Metropolitan Nashville Police Department in Nashville, Tenn.

Upon receiving his pension, Nichols decided to further his endeavors of buying and selling real estate investments and turn it into a full-time career.

“I saw the opportunity and decided to seize the moment,” said Nichols. “All my life, I have bought, refurbished and sold residential real estate on the side as investments. But, I knew if I made this a full-time career that it would be on an ownership level as a franchise.”

Having lived in Hendersonville, Nichols was familiar with the Crye-Leike name, he said. “As I researched the various real estate franchises, it became clear to me that Crye-Leike was the best choice.”

Nichols bought and renovated a 7,000 square foot office building, located at 1400 Neal Street, with initial plans to occupy only 4,000 sq. ft. of that space to accommodate up to 30 sales associates.

When Crye*Leike of the Upper Cumberland opened for business on July 19, 2004, Nichols discovered a few weeks later that the office space was not big enough.

“We just opened our doors with five seasoned sales associates who are $3 to $10 million sales producers,” said Nichols. “Three weeks later, the growing pains of starting a new business kicked in. We had more sales associates join us than we had space available for them.”

So, he decided to expand business operations by building a two-story expansion onto the warehouse portion of the building. Crye*Leike’s newly-renovated $1.25 million office facility will accommodate up to 67 sales associates, and will include semi-private and private offices for top producers, he added.

Crye*Leike Franchises (www.franchises.crye-leike.com) is the real estate franchisor subsidiary of Crye-Leike (www.crye-leike.com), providing comprehensive training, management, administrative and marketing support for the Crye-Leike franchise system. Its division focuses its marketing efforts on establishing franchise territories in smaller populated areas where it would not normally open a company office because of market size and location. Crye*Leike Franchises has 18 independently owned and operated franchise brokers who are located in five territories within the United States: Tenn., Ark., Miss., Ky. and Fla., with future plans to expand into contiguous states.

Crye-Leike (www.crye-leike.com) is a full service real estate company for 27 years, with a network of over 2,800 sales associates and 75 branch and franchise offices located in 39 counties throughout a six-state southern region in Tennessee, Arkansas, Mississippi, Georgia, Kentucky and Florida.