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Cassidy & Pinkard Colliers Targets Industrial

WASHINGTON, DC-The firm is using recently hired Edward Harrell to grow its investment sales and leasing operations in this asset class.

By Erika Morphy | Updated on May 13, 2008

WASHINGTON, DC-Cassidy & Pinkard Colliers is making a play for the industrial asset class, a category in which, up until recently, it has had little exposure. Last year, the company hired Edward Harrell, senior vice president, as its Industrial Practice Leader to launch the initiative. Acquainting existing clients with Cassidy & Pinkard Colliers’ new industrial line was chief among his first tasks. Now, the firm is unveiling its new practice in this space, Harrell tells GlobeSt.com.

“We are seen as very strong in office–but not in industrial.” C&CP’s experience in the asset class was limited to marketing or leasing one-story flex/office products for existing clients. Now, the brokerage firm is building a practice that deals with all warehouse-related product types, from distribution to flex, he says.

Currently, the company has about 500,000 sf of existing agency assignments in the DC metro area and is working on 150,00 sf to 200,000 sf in tenant related assignments. The majority of these are in Northern Virgina, Harrell adds. As the company expands this practice, he anticipates building out the firm’s DC and Maryland focus. Any new hires, he says, would likely be based in this Downtown office, in order to better concentrate on those markets.

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