The new entity will provide general contracting, tenant improvement and construction management services to commercial, healthcare and community/sports center clients. Jossart tells GlobeSt.com that the new entity will have more than $140 million in construction volume. "This really helps us, we had project management and development requests by clients in excess of $100 million, but we didn't have the financial strength or depth to take on that kind of work. Now we have the horsepower to do those larger projects," he says.
He says the merger is complimentary to both firms. "We are very strong in healthcare and community centers, and they are strong in commercial. Also, we're strong in the CBD, and they're not, and we're strong in tenant relations while they work more for the landlords," Jossart says. Bruce Palmer, SVP with United Properties, is assisting in the transition and integration of the two businesses. NorthMarq Real Estate Services, a Pohlad company, was formed earlier this year handle the United Properties divisions, including brokerage, property management, construction and corporate solutions.
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