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KLNB hits $1B milestone

KLNB surpassed the $1 billion mark through more than 10 million square feet of commercial real estate transactions in 2010, officials announced Friday.

The company, founded in 1968, is comprised of two real estate services branches, NAI KLNB and KLNB Retail. The total reached — $1.03 billion -– was recorded in commercial real estate transactions in Maryland, Washington and northern Virginia through more than 800 deals in five full-service offices.

That breaks down to 1.8 million square feet of office leasing or sales among approximately 230 deals, and nearly 3.8 million square feet of industrial leasing or sales that transpired with nearly 200 deals, company officials said Friday. In addition, there was about  4.6 million square feet of retail space sold or leased in more than 400 transactions.

The company is a joint venture partner of Paragon Commercial Property Management.
In addition, KLNB announced that three new principals, Stephen Combs, Robert Morris and Ryan Wilner, were recently promoted in the retail sector.