"In today's economic climate, there are few companies that are in a position to be able to grow and expand their services through acquisitions and mergers, simply because there is too much risk and not enough capital to get those types of deals done right now," says William Hanson, SIOR and president of NAI James E. Hanson. However, he tells GlobeSt.com, "we view this time as a prime opportunity to make such a bold move in order to further enhance our strength in the marketplace that we service with the diversified professional personnel and depth of services we can offer our customers and clients."

Hanson also adds that the decision to acquire Schilp & Co. took some time, but ultimately the firm fully complements NAI's current activities. "We knew they were a well-established regional real estate brokerage firm with a stellar reputation for their knowledge and experience in land sales, development projects and investments. Two of our senior brokers, Tom Ryan and Lee Eagles, have a close working and personal relationship with them, which precipitated our initial introduction," he says.

According to Schilp, who started working in the business in the mid-70s for Alexander Summer Co. in Paramus, "I am well aware of the NAI Hanson's reputation of being a first rate organization. Upon meeting with them and discussing our respective activities, it quickly became apparent that we had much in common and it is my opinion that integrating into NAI James E. Hanson will be a win-win situation." Frankly, he adds, "we need the Hanson platform to continue to grow and compete in the marketplace. The Parsippany office is a natural fit for us, given that the Morris county market and points west is where we do a majority of our business."