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NRT Buys Two Local Brokerages

ORLANDO-Duke Properties Inc. of suburban Winter Park, FL, an industrial-focused firm, and Morbitzer Group, a Maitland, FL-based company specializing in retail management, are merging into Coldwell Banker Commercial NRT in Winter Park.

By Alex Finkelstein | Updated on July 01, 2003

ORLANDO-NRT Inc. of New York is expanding its Central Florida presence with the acquisition of two longtime local brokerages–Duke Properties Inc. of suburban Winter Park, FL and Morbitzer Group, a Maitland, FL-based company specializing in retail management.

The deal, which closed Monday, was confirmed to GlobeSt.com by Robin L. Webb, managing broker for the commercial division of Coldwell Banker Commercial NRT in Winter Park. Duke Properties, which is not related to Duke Realty Corp. of Indianapolis, IN, and Morbitzer will operate under the Coldwell Banker Commercial NRT flag.

The value of the deal wasn’t disclosed. James and Gayle Duke, owners of Duke Properties, and Tom and Tina Morbitzer, principals in Morbitzer Group, will be senior brokers in the sales and marketing division of Coldwell Banker. Rod Clark is NRT’s president for the Central Florida region.

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