Calling the GVA affiliation a "best-in-class platform" for its Philadelphia-based clients with multi-city/global requirements, Reid Blynn, Smith Mack's CEO and principal, cites GVA's "strong global presence…, particularly in the New York, London and other major markets" as a key factor in the decision.
Smith Mack ownership remains unchanged. It begins doing business as GVA Smith Mack today. "Local companies operating in multiple markets will benefit from GVA's depth; however, all transactions will continue to be managed by GVA Smith Mack," says Blynn.
GVA Worldwide operates in 80 markets in 20 countries. A spokeswoman for Oncor International says it has a little more than 50 offices worldwide, with approximately 30 in the US. She tells GlobeSt.com there is "no comment at this time" on what company, if any, will replace Smith Mack as Oncor's affiliate in the Philadelphia market.
GVA Smith Mack was founded in 1984. It operates in Center City and suburban Philadelphia, Wilmington, DE, and southern NJ. Among its clients are SunGard, Wyeth, Interline Brands, Alliance One, Pew Charitable Trusts, Cigna, Legg Mason Real Estate Services, Berwind Property Group, Archon Group, HRPT Property Trust and Trefoil Properties. Its total transaction value in 2002 exceeded $300 million and, according to a printed statement, it had a 20% market share of all office transactions in its area last year.
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