Commercial real estate giant KLNB just got 20% percent bigger with the acquisition of Rockville-based Edge Commercial Real Estate. Located at 2273 Research Boulevard, Edge CRE has expanded to offices in Washington, D.C., Northern Virginia and Pennsylvania in its 16 years in business. Thirty-two Edge employees will join KLNB to form one of the Mid-Atlantic region's most-formidable commercial real estate firms.
The acquisition provides several strategic advantages for KLNB. Edge has developed a specialized business in tenant representation, and that six-person staff is now moving to KLNB. The addition of Edge provides KLNB with entry into the multi-family residential real estate market. And the merger also widens KLNB's presence in Montgomery County, where residential real estate development and biotech remain the only bright spots in an otherwise-moribund county economy.
“The acquisition of Edge fits perfectly in our timeline for smart and disciplined progression,” KLNB President Marc Menick said in a statement. “Our evolution has always been calculated to ensure it makes sense for our team and our clients. By acquiring Edge, we will be able to do virtually everything we’re already known for, but at an even higher level and a wider reach. And in the case of multi-family, this opportunity brings the KLNB customer experience to a whole new sector that we have wanted to approach for some time.”
Moribund? You post daily about new restaurants, retail openings in shopping malls (happening almost nowhere else in North America), and real estate development. Perhaps office development is down but that is true absolutely everywhere.
ReplyDelete5:44: Stores are opening in malls across America. They're also closing, as they do here, as well. What makes the Montgomery County economy moribund is when you examine the full picture. By every relevant measurement by the U.S. BLS, Montgomery County is near or at the bottom in the DC region over the last decade. We even created less jobs than Prince George's County. No major corporation has relocated its HQ to Montgomery County in more than 25 years.
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