Woodmark was founded in 1995 by principals Edwin Beanblossom and Stan Ferenc. It has made a name for itself among institutional landlords--Kondobo, Rreef Funds, Starwood Capital Group, Bernstein Cos, Royal Dutch Shell--as well as institutional grade tenants, such as Washington Gas, Battelle Memorial Institute and Reading is Fundamental.
The company manages a portfolio of 4.3 million sf in the Washington metro area and Dallas. J Street Cos. chairman, Bruce Baschuk tells GlobeSt.com that he will be leveraging Woodmark's institutional class bona fides to make inroads in both the leasing, property management and tenant representation business lines. The Woodmark merger delivers 'instant credibility with institutional owners," he says.
Randall Hagner has had some management and leasing experience in the CBD, Bashchuk adds, "but it has been a number of years since we have been in that game." With Woodmark in the corporate fold, "we are targeting all sorts of institutional owners to lease and management their properties." The firm will also be targeting institutional tenants using Woodmark bona fides.
At the same time, Geoff Kieffer, a Woodmark Cos. principal, tells GlobeSt.com that the merger allows the firm to expand its landlord representation business into DC's suburbs. Randall Hagner has a group of people in Northern Virginia with whom we are working now for landlord representation deals."
J Street acquired Randall local real estate firm Randall Hagner last February. Randall is a residential and commercial brokerage, mortgage lending and property management company. It has since hired new brokers and executives including Glenn Sutton as a SVP in the Commercial Services Division of the company's Washington, DC office and Tom McHugh as SVP and A.J. Wood as VP the Northern Virginia office.
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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.
