Allan Riorda
The recent opening of four Lee & Associates full-service commercial real estate brokerage offices in Miami, Florida; Raleigh, North Carolina; and Cincinnati, Ohio leaves Boston and the Washington, D.C./Northern Virginia region as the last remaining major markets on the East Coast of the United States without a Lee & Associates presence. That could change soon, according to Allan Riorda, SIOR, President/Principal, Lee & Associates in Maryland, who indicates the company is currently searching for the “right fit” in the Nation’s Capital, with a new office expected to open within the next two years.
“The DC/Northern Virginia office will leverage and expand upon the tremendous relationships our Maryland team has created and fostered among commercial real estate owners, investors, companies, brokerage firms and related professionals,” explained Allan Riorda of Lee & Associates. “We currently service sections of that region and believe existing fundamentals including a diverse corporate base, proximity to the Federal Government, a strong labor market and modern infrastructure network will continue to build momentum in the foreseeable future. At this point, we are working to identify the appropriate office location to service the region, which will be followed by a strong recruitment effort.”
Lee & Associates, the largest broker-owned commercial real estate firm in North America with more than 59 full-time offices, will celebrate its 40th anniversary next year. Its brokers specialize in commercial office, industrial, retail, multifamily, land and investment services.
“The breadth of our brokerage network enables our real estate professionals to adeptly handle the specific out-of-town real estate requirements for our clients, by working with Lee & Associates offices that are embedded in a particular market with a boots-on-the-ground approach,” stated Brian Lynch, SIOR President of Lee & Associates I New Jersey, who also functions as Strategy Officer in charge of East Coast Expansion. “We recognize the extreme strength of the Washington, D.C./Northern Virginia market now and going forward, and have made it a priority to plant a flag in that section of the country. The presence of the Lee & Associates’ Maryland office, which is among the most prolific in the country, will make our efforts significantly easier.” Lynch and Riorda are also on Lee’s Board of Directors.
“Our transactional volume rose 33% last year and, since establishing our local office in 2013, achieved our highest amount of leasing and sales in 2017,” Riorda added. “We expect to eclipse these totals this year, which can be attributed to the top brokerage professionals we have attracted and retained, coupled with the strength of the local real estate industry and the business economy in general,” he added.
Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients. Visit https://www.lee-associates.com/offices/office/?id=1591
