The property management and brokerage groups of Manekin LLC will merge with Columbia-based Colliers International, officials of the companies said Wednesday.
The commercial real estate companies said the merger will blend 17 million square feet of managed properties to the region. The new entity will be called Colliers International | Baltimore and will unite more than 40 employees in Manekin’s property management and brokerage groups with more than 80 Colliers employees.
Manekin principals Richard Alter and Cole Schnorf will become equal partners in the combined management company.
“My partners and I have admired the principals and leaders of Manekin for many years. Many of our partners and associates have had great success working with the Manekin principals,” said Timothy R. Hearn, CEO of Colliers International | Baltimore, in a statement. “The opportunity to grow our management company by 10 million square feet, expand our brokerage team, and add 40 valuable employees is not an opportunity that comes around very often.”
Manekin was founded in 1946. CEO Richard Alter will continue in his position.
“Manekin is excited about the opportunity to associate with an international company that also provides for local leadership,” Alter said, in a statement. “The opportunities that Colliers can provide our employees, in terms of educational and professional development and access to an expanded geographic platform with 1.25 billion square feet under management globally, is outstanding.”
The Manekin company’s development and construction divisions are not a part of the merger.