CHICAGO-Attempting to address an unmet need within its client base, Zifkin Realty & Development (ZRD) has launched Zifkin Realty Management to focus on third-party commercial property management services. The company will work independently from ZRD, but will share basic resources while the management company is growing.

“In the evolution of our company, and where we are with our portfolio and services, it’s a natural next step,” ZRD president and CEO Ed Zifkin tells GlobeSt.com. “In terms of the market, one of the challenges as brokers that we’ve seen in last two years is dealing with owners who wish to sell properties that weren’t properly managed.”

ZRD, founded in 1998 and known for its work in retail property development, is planning to expand its property-type reach through the new company. To help lead that charge, Zifkin has bestowed 16-year asset management veteran Yvonne A. Jones with the new company’s head position, executive vice president and principal. Jones has been a part of ZRD for the past three years as senior vice president, aiding in the expansion of ZRD’s management, investment brokerage and leasing services.

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