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6C — September 27 - October 10, 2019 — Fall Preview — M id A tlantic
Real Estate Journal
CORFAC International In a data-driven world, broker relationships still matter C ommercial R eal E state O rganization
hirty years ago, COR- FAC International was launched to give independent brokerage firms greater geographic reach, without sacrificing the qual- ity of client service or their own autonomy. The idea was to develop a network of non-competing firms led by experienced, respected brokers who either knew each other already, or would build relationships through participation in the network. 1989 was before Big Data, the first Blackberry or even the Internet. Brokers got to T
sional organizations. This approach advances CORFAC’s focus on strong broker relationships, proven expertise and professional in- tegrity and worked 30 years ago. But in a world of social media and data-driven solu- tions, how important are bro- kerage relationships today? The answer: More important than ever. CORFAC is the world’s larg- est network of independent commercial real estate brokers, with affiliates in 75 markets around the world completing 500 million s/f of transactions
valued at $8 billion. Growth is accelerating, as the network has added more than 20 affili- ates worldwide in the past four years. CORFAC is especially strong in the Mid-Atlantic region, the home of several affiliates with longevity in the industry and in the net- work. The Garibaldi Group/ CORFAC International, Cha- tham, New Jersey, has been in business for 100 years and has been a CORFACmember for nearly 30 years. Donohoe Real Estate Services/COR- FAC International, with of-
fices in Bethesda, Maryland, and Vienna, Virginia, was formed 125 years ago and joined the network 20 years ago. Porter Realty Company/ CORFAC International in Richmond, Virginia, was launched 50 years ago and joined CORFAC more than 25 years ago. Patterson- Woods Commercial Proper- ties/CORFAC International, Wilmington, Delaware, has served clients for 50 years and joined CORFAC 18 years ago. “Part of CORFAC’s strength is in the great working rela- tionships and friendships within the organization,” said Greg Ellis, CCIM, Principal of Patterson-Woods Com- mercial Properties/CORFAC International. “We can work with people who we know have the knowledge, skill and integrity to accomplish our clients’ goals.” Firms that join CORFAC almost never leave. The av- erage tenure of a CORFAC firm is 14 years. “CORFAC helps us connect with brokers we can trust who can help us do a great job for our clients when we venture out of our backyard,” said James Garib- aldi, CEO of The Garibaldi Group/CORFAC Internation- al. “The relationships we’ve developed through CORFAC are invaluable to expanding our client relationships.” When a long-term client of Garibaldi had a need in Mil- waukee, Wisconsin, the team worked with the local affili- ate The Dickman Company/ CORFAC International on a multi-year project to identify sites for a strategic manu- facturing facility. The result was a creative opportunity to combine an existing 118,000 s/f office building with a neighboring land site to sup- port a 350,000 s/f build-to- suit manufacturing facility. Simultaneously, Garibaldi worked for the same client with Sansone Group/COR- FAC International in St. Louis, Missouri, this time for a 171,500 s/f manufacturing build-to-suit in Bridgeton, Missouri. The commercial real es- tate industry has changed dramatically in recent de- cades, but one thing has not changed: Broker rela- tionships and expertise are still vital to getting the best execution.
know their peers in other cities through professional credentialing organizations like SIOR and CCIM. In fact, CORFAC was first con- ceived by a group of SIORs at a national conference, and new affiliates often became acquainted with existing members through profes-
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Celebrating 30 Years
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