"We have long done business in the Fredericksburg market," Paul Silver, president and CEO of Thalhimer/Cushman & Wakefield Alliance, tells GlobeSt.com. "Sullivan wanted a larger platform with a little more support its brokerage professionals. We wanted to be able to give our Richmond clients the same help on a local basis in Fredericksburg that they receive from us on a regional basis." Thalhimer/Cushman & Wakefield geographic coverage also includes Newport News, where it maintains an office.
Fredericksburg is an important market in which to have a local presence, Silver also notes. "If you exclude Northern Virginia as a separate market--it is really part of the DC market--then Fredericksburg is the third large metro area in the State of Virginia behind Hampton Roads and Richmond."
Silver estimates that the alliance will add significant transaction volume to its bottom line. The firm's realized $114 million in transactions over a two-year period, he says. In 2007, Thalhimer/Cushman & Wakefield realized $786 million.
Joining Thalhimer/Cushman & Wakefield's brokerage group are Neil Sullivan, president of the company, Virgil Nelson, Mary Katherine Greenlaw, Berkley Mitchell, Mike Degen, Sharon Schmidt, Douglas Brown, Jamie Scully, Wilson Greenlaw Jr. and Shawn Carrington. Also joining Thalhimer/Cushman & Wakefield are Sullivan's property management group including Shaun Sullivan, Ann Allen, Joann Gaskins, Patricia Stone and Kathy Butler. Neil Sullivan will continue to manage Thalhimer's Fredericksburg office.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
