Extract from The Tribune staff reports
BIRMINGHAM – Two of Alabama’s major commercial real estate companies announced a merger on Monday, August 3, 2020.
Ponder Properties Commercial Real Estate and NAI Chase Commercial Realty form one of the state’s largest commercial real estate brokerage firms.
In Trussville, Ponder Properties operates Valley View Mall, Chalkville Mountain Road Mall on Frank Street, Trussville Crescent Mall, Trussville Plaza, and Vann Road Medical Suites.
With over 58 years of property management expertise and inventory, the companies together have over four million square feet of commercial development. Developments include office, commercial, industrial and investment properties for sale or lease.
“The combination of our professional brokerage teams and exceptional property management, construction and receivership services will create a synergy unmatched by other local commercial real estate companies,” said Terry Ponder, President of Ponder Properties. “We have immense respect for the NAI Chase team and its impact on the Alabama commercial real estate market, particularly the impressive growth and market share it has achieved in Huntsville and throughout the northern region. of Alabama “.
“Both companies have a long heritage and a long tradition in the Birmingham market,” said Charlie Grelier, Jr., president of NAI Chase Commercial Realty. “The merger brings together world-class expertise and a shared vision of strong relationships and commitment to our clients and clients. “
Since 1992, NAI Chase Commercial has been part of NAI Global. NAI Global is one of the world’s leading commercial real estate brokerage firms. NAI Global has over 375 strategically located offices in North America, Latin America & the Caribbean, Europe, Africa and Asia-Pacific, with 6,000 local market professionals, managing over 1.15 billion feet squares of properties and facilities. Each year, NAI Global completes more than $ 20 billion in commercial real estate transactions around the world.
The Ponder-Chase merger will integrate the NAI platform into the day-to-day brokerage operations of both companies. The integrated teams will include five employees from Ponder Properties and 25 from NAI Chase Commercial. Randy Thomas will be named executive vice president and will lead day-to-day operations in the central Alabama region of Birmingham.
“I am delighted to see these two professional teams, combining their strong brokerage and management capabilities, brought together in this merger,” added Thomas. “Our goal is to continue to make a significant contribution to Alabama’s economic growth, as a key member of the future of Alabama commercial real estate. “