The new entity will provide general contracting, tenantimprovement and construction management services to commercial,healthcare and community/sports center clients. Jossart tellsGlobeSt.com that the new entity will have more than $140 million inconstruction volume. "This really helps us, we had projectmanagement and development requests by clients in excess of $100million, but we didn't have the financial strength or depth to takeon that kind of work. Now we have the horsepower to do those largerprojects," he says.

He says the merger is complimentary to both firms. "We are verystrong in healthcare and community centers, and they are strong incommercial. Also, we're strong in the CBD, and they're not, andwe're strong in tenant relations while they work more for thelandlords," Jossart says. Bruce Palmer, SVP with United Properties,is assisting in the transition and integration of the twobusinesses. NorthMarq Real Estate Services, a Pohlad company, wasformed earlier this year handle the United Properties divisions,including brokerage, property management, construction andcorporate solutions.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.