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WEST PALM BEACH, FL-Two locally based commercial real estate firms, Walters Gottlieb/Partners Inc. and Compass Realty Cos., are joining forces this week to create WGCompass Realty Cos. The new company will have 50 employees and consolidate operations at One Clearlake Center, 250 S. Australian Ave.

Both firms, which have previously worked together on retail and office transactions, will also retain offices in Delray Beach, Palm Beach Gardens, Stuart and Naples. Their new strategy leverages market knowledge, relationships and specialized services under a larger service platform that can serve clients throughout Florida as well as beyond the state.

“The importance of local market intelligence has never been more crucial in the context of today’s volatile economic landscape, especially in view of its effect on the commercial real estate sector,” says Jonathan Satter, a WGCompass principal. “Companies are realizing more than ever the importance of their commercial real estate decisions on business operations, both from an efficiency and expense standpoint.”

Satter and Donald DeWoody founded Compass Realty in 1998 as a commercial real estate advisory firm working with nationally recognized retail clients. Walters Gottlieb was formed in 1989 by Michael Walters and Gary Gottlieb, and handles leasing and management for several prestigious office properties throughout Palm Beach County.

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