From The Tribune staff reports
BIRMINGHAM — Two of Alabama’s large commercial real estate firms announced a merger on Monday, Aug, 3, 2020.
Ponder Properties Commercial Real Estate and NAI Chase Commercial Realty are forming one of the largest commercial real estate brokerage companies in the state.
In Trussville, Ponder Properties manages Valley View Shopping Center, the shopping center off Chalkville Mountain Road at Frank Street, the Trussville Crescent Shopping Center, Trussville Plaza and medical suites off Vann Road.
With over 58 years of expertise and property management inventory, the companies together have over four-million square feet of commercial developments. The developments include office, retail, industrial and investment properties for sale or for lease.
“The combination of our professional brokerage teams and exceptional property management, construction and receivership services will create a synergy incomparable to other local commercial real estate firms,” said Terry Ponder, President of Ponder Properties. “We have tremendous respect for the NAI Chase team and their impact on the Alabama commercial real estate market, particularly the impressive growth and market share they have secured in Huntsville and throughout the North Alabama region”.
“Both firms have a long legacy and 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 customers.”
Since 1992, NAI Chase Commercial has been part of the NAI Global. NAI Global is a leading global commercial real estate brokerage firm. NAI Global has more than 375 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 6,000 local market professionals, managing in excess of 1.15 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
The Ponder- Chase merger will integrate the NAI platform into daily brokerage operations for both firms. 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 run the day-to-day operations in Birmingham’s Central Alabama region.
“I am excited 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 being a significant contributor to Alabama’s economic growth, as a key member in the future of Alabama’s commercial real estate.”