"We have long done business in the Fredericksburg market," PaulSilver, president and CEO of Thalhimer/Cushman & WakefieldAlliance, tells GlobeSt.com. "Sullivan wanted a larger platformwith a little more support its brokerage professionals. We wantedto be able to give our Richmond clients the same help on a localbasis in Fredericksburg that they receive from us on a regionalbasis." Thalhimer/Cushman & Wakefield geographic coverage alsoincludes Newport News, where it maintains an office.
Fredericksburg is an important market in which to have a localpresence, Silver also notes. "If you exclude Northern Virginia as aseparate market--it is really part of the DC market--thenFredericksburg is the third large metro area in the State ofVirginia behind Hampton Roads and Richmond."
Silver estimates that the alliance will add significanttransaction volume to its bottom line. The firm's realized $114million in transactions over a two-year period, he says. In 2007,Thalhimer/Cushman & Wakefield realized $786 million.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
