Ponder Properties Commercial Real Estate and NAI Chase Commercial Realty, two of Alabama’s leading commercial real estate firms, Monday announced a merger, creating one of the largest full-service commercial real estate brokerage companies in Alabama.
“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.”
Together, the firms have more than 58 years of market expertise and a combined leasing, sales, and property management inventory in excess of 4 million square feet plus some 240 acres for sale/ground lease commercial development land. The diversified inventory includes a variety of office, retail, industrial and investment properties spread throughout Alabama.
“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”.
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 worldwide 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 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. 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” said Thomas.