{"id":1004647436,"date":"2023-02-23T04:45:17","date_gmt":"2023-02-23T12:45:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004647436"},"modified":"2023-02-23T07:08:02","modified_gmt":"2023-02-23T15:08:02","slug":"klnb-expands-with-acquisition-of-edge-commercial-real-estate","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/klnb-expands-with-acquisition-of-edge-commercial-real-estate\/","title":{"rendered":"KLNB Acquires Edge Commercial Real Estate"},"content":{"rendered":"
\"Left<\/a>

Left to right: Marc Menick, President, KLNB, and Marc Balamaci, Partner, KLNB. Image courtesy of KLNB<\/p><\/div>\n

KLNB<\/strong> further solidifies its status as the largest privately held commercial real estate brokerage firm in the Mid-Atlantic region with the acquisition of Edge Commercial Real Estate<\/strong>. The transaction allows KLNB, which has been a leader in the Greater Washington, D.C., area since 1968, to expand in size by approximately 20 percent.<\/p>\n

KLNB has not disclosed the transaction’s financial terms; however, the deal includes substantially all of Edge\u2019s assets, and Edge is not precisely small potatoes. The Rockville, Md.-based firm opened its doors in 2007, and now boasts a track record that includes leasing and management volume totaling 8.5 million square feet. The firm\u2019s roster of offerings runs the gamut and includes advisory, leasing and investment sales services, as well as construction and engineering services. Additionally, Edge brings to the table a portfolio exceeding 1 million square feet of property management and engineering assignments.<\/p>\n

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READ ALSO<\/strong>: How Walkability Impacts CRE Markets<\/a><\/p>\n

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Edge is folding in with KLNB at a time when both firms are at peak performance, with the companies having each experienced their most successful year in 2022. Edge recorded $492 million in transaction volume and a total of 231 deals, while KLNB logged $1.8 billion in transaction volume and 1,170 deals.<\/p>\n

The acquisition of Edge fits in KLNB\u2019s timeline for smart and disciplined progression, Marc Menick, president of KLNB, noted in a prepared statement. \u201cBy acquiring Edge, we will be able to do virtually everything we\u2019re already known for, but at an even higher level and a wider reach,\u201d he added. Menick joined the KLNB family<\/a> in 2017, when he accepted the appointment as president & chief operations officer.<\/p>\n

Multi-faceted expansion<\/strong><\/h2>\n

With the acquisition of Edge, KLNB increases its office footprint from four to five locations in Washington, D.C., Maryland and Virginia, and adds 32 employees, including former Edge partner Marc Balamaci, who comes to KLNB as a partner. The transaction also allows KLNB to substantially enhance its office and industrial tenant representation business lines in one fell swoop.<\/p>\n

Additionally, perhaps of greatest note, KLNB gets to fulfill its long-held goal of entering the multifamily market, and it gets to do so overnight through the Edge acquisition. KLNB isn\u2019t just expanding into multifamily; it is doing so on strong footing with the expertise that comes with Edge\u2019s $9.5 billion in multifamily sales activity across the Mid-Atlantic. Given current multifamily market conditions<\/a>, KLNB will have its hands full.<\/p>\n

\u201cCurrent market volatility has challenged fundamentals in recently popular investment markets like Phoenix, Tampa, Fla., Jacksonville, Fla., Atlanta and Houston. Furthermore, increasing cost of capital and softening yield compression are causing risk-averse investors to begin reducing exposure in secondary markets and reconsider the safety of the Mid-Atlantic,\u201d according to a fourth quarter 2022 report by Newmark<\/strong>.<\/p>\n

The combining of KLNB and Edge comes after a few years of fruitful discussions that ultimately convinced both firms that they will be more powerful as one. The companies have the support of Joe Sutton, Edge\u2019s founder & former managing partner, who announced in late 2021 that he would be leaving Edge.<\/p>\n","protected":false},"excerpt":{"rendered":"

With this union, the Mid-Atlantic\u2019s largest privately held brokerage expands its footprint and gains a new asset category.<\/p>\n","protected":false},"author":969,"featured_media":1004647485,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21808,21748,21783,11,21742,21747,21785,1615],"tags":[44768,35579,50999],"class_list":["post-1004647436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-featured","category-industrial","category-investment","category-midatlantic","category-latest","category-office","category-property-management","category-washington-dc","tag-edge-commercial-real-estate","tag-klnb","tag-newmark"],"acf":[],"yoast_head":"\nKLNB Acquires Edge Commercial Real Estate - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"KLNB, the largest privately held commercial real estate brokerage firm in the Mid-Atlantic region, has acquired Edge Commercial Real Estate.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/klnb-expands-with-acquisition-of-edge-commercial-real-estate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KLNB Acquires Edge Commercial Real Estate\" \/>\n<meta property=\"og:description\" content=\"KLNB, the largest privately held commercial real estate brokerage firm in the Mid-Atlantic region, has acquired Edge Commercial Real Estate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/klnb-expands-with-acquisition-of-edge-commercial-real-estate\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-23T12:45:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-23T15:08:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Marc-Menick-and-Marc-Balamaci-of-KLNB.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/klnb-expands-with-acquisition-of-edge-commercial-real-estate\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/klnb-expands-with-acquisition-of-edge-commercial-real-estate\/\",\"name\":\"KLNB Acquires Edge Commercial Real Estate - 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