The move will link GVA Williams' broader national and international real estate platform with Buschman's strength in the Princeton/Mercer County area. By some yardsticks, the partnership is said to rank the two firms collectively as the third largest real estate services operation in the Garden State after Cushman & Wakefield of NJ and CB Richard Ellis.
"This strategic alliance positions our firms as offering the deepest market coverage in the state's most important marketing sectors," says Eric Witmondt, chief executive officer of GVA Williams of NJ. "Buschman Partners is one of Princeton's true pioneers.
"The alliance continues our firm's strategic expansion plans, and it allows us to provide greater coverage," Witmondt adds.
"This is a very exciting alliance," says John Buschman, who founded the company bearing his name in 1984. "We look forward to working closely together."
Buschman is coming off another "marriage," in a manner of speaking. The independent "boutique" firm had signed on to a similar strategic alliance agreement with Insignia/ESG a few years ago, in a move that at the time was described as a step toward a full merger. But Buschman opted out of the arrangement after Insignia/ESG's acquisition by CB Richard Ellis was finalized.
GVA Williams of NJ was once the independent Associated Realty until that firm itself was acquired outright by the New York-based GVA Williams a few years back. Besides its brokerage operations, GVA Williams currently manages more than 200 commercial properties occupying 19.1 million sf in the tri-state region.
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