Strata Group merging with Pennsylvania real estate firm
Yerman Witman Gaines and Conklin, a.k.a. the Strata Group, has recently downsized by shuttering several satellite offices in Bel Air, Fort Meade, Locust Point at McHenry Row and Severn Square. This week, the realty firm announced another change: a merger with the Pennsylvania-based Prudential Homesale Family of Companies. The name of the new company is Prudential Homesale YWGC Realty, the nearly 200 local Realtors were told via Tweet and text sent from headquarters at Bare Hills in North Baltimore Wednesday afternoon. The newly merged company will have a sales force of about 1,150 Realtors, sources say. The Prudential Homesale group is based in the southeastern portion of Pennsylvania, focusing on Lancaster, York, Reading and Harrisburg. YWGC had opened many of its satellite offices in the region to great fanfare this past year, and perhaps grew too big too fast as the recession’s grip still holds tight to the state’s housing market. In Bel Air, William Yerman, the Strata Group’s CEO, said he had hoped to hire up to 60 Realtors to handle expected sales from relocating BRAC employees to live near Aberdeen Proving Ground. The same theory held for the Fort Meade office, which is in an area being expanded by BRAC at Fort George G. Meade. ***** NAI KLNB Retail Investment Sales this week sold two Food Lion-anchored retail shopping centers in North Carolina for $2.8 million to New York investors GA-FCU Management LLC. The shopping centers are 36,000-square-foot Roseboro Centre, which is 75 percent leased, and 43,550-square-foot Mountain View Shopping in Hickory, which is totally leased.