The combined leasing, sales and property management inventory of the two companies includes office, retail, industrial and investment properties across Alabama
Two of Alabama’s (US) largest commercial real estate firms, Ponder Properties Commercial Real Estate and NAI Chase Commercial Realty, will announce their merger move today, creating one of the largest full-service commercial real estate brokerage companies in Alabama.
The merger will integrate the NAI platform into daily brokerage operations for both firms. The integrated teams will include five employees from Ponder Properties and 25 from NAI Chase Commercial.
Randy Thomas will be named executive vice president and run the day-to-day operations in Birmingham’s Central Alabama region.
The companies have more than 58 years of market expertise between them and a combined leasing, sales and property management inventory of more than 4 million square feet and about 240 acres for sale or ground lease of commercial development land. That includes office, retail, industrial and investment properties across Alabama.
Ponder Properties President Terry Ponder said the merger will “create a synergy incomparable to other local commercial real estate firms.”
We have tremendous respect for the NAI Chase team and their impact on the Alabama commercial real estate market, particularly the impressive growth and market share they have secured in Huntsville and throughout the North Alabama region, Ponder said.
Both firms have a long legacy and tradition in the Birmingham market, Charlie Grelier, Jr., President of NAI Chase Commercial Realty, said. The merger brings together world-class expertise and a shared vision of strong relationships and commitment to our clients and customers.
Since 1992, NAI Chase Commercial has been part of NAI Global, a commercial real estate brokerage firm with more than 375 offices throughout North America, Latin America and the Caribbean, Europe, Africa, and Asia Pacific. Annually, NAI Global completes in excess of £15.37 billion ($20 billion) in commercial real estate transactions throughout the world.
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