34 — September 2024 — M id A tlantic Real Estate Journal
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M id A tlantic R eal E state J ournal
Independence, collaboration, and global growth drive organization to success CORFAC International marks 35 years as leading independent broker network
ORFAC was formed in 1989 as a grassroots networking organiza - tion focused on the industrial and office sectors. It was an alternative to the trend of local and regional brokerage firms being acquired by pub - licly traded global providers and losing their local identity. Today CORFAC is the world’s largest network of independent commercial real estate brokers serving the office, industrial and retail markets, all rooted in their local communities. Despite numerous market shifts and disruptions over the C
“We aimed for the expertise and experience of a larger global professional network, but remained nimble enough that we could easily share information and collaborate on deals,” said CORFAC founding member Charles B. King Jr., SIOR, president of King Industrial Realty, Inc./CORFAC International, Atlanta, GA. “Our biannual conferences and regular com - mittee meetings allow us to build trusted relationships for cross-market referrals.” Today, CORFAC offices col - lectively close an average of 10,000 lease and sales trans - actions valued at more than $10 billion annually, totaling 750 million s/f closed and managed worldwide. Yet, what most members will highlight about being part of CORFAC is the camaraderie and collaboration between members and the opportunities to excel together, including two conferences each year that ro - tate between member cities and numerous opportunities for for - mal and informal information- sharing throughout the year. “Being a CORFAC member really helped our firm in terms of developing young people,” said Dan Dokovic, SIOR, princi - pal of Intelica / CORFAC Inter - national in Missouri. “There’s just a lot of good talent here and talent sharing. We’re in the people business. If people are working with people they love, it really creates magical moments.” MAREJ W OODLAND PARK, NJ — Bussel Realty Corp. (BRC) leased 2,570 s/f at 654 Mc - Bride Ave. in Woodland Park, a 8,000 s/f retail/residential strip center, on behalf of Holy Cow Burgers. Chandler Vanderbeek , vice president, and Connor Vanderbeek , vice president, of BRC Retail Services rep - resented Holy Cow Burgers in the transaction. The res - taurant is expected to open its doors early Fall 2024. The owner, 654 McBride LLC, was represented in-house. With 123-feet of frontage on McBride Ave., 654 McBride Ave., is located near I-80 and comprised of 3,500 s/f of retail space and 3,796 s/f of residential space. MAREJ Bussel Realty Retail Services leases 2,570 s/f
past three-plus decades, the common thread throughout CORFAC’s history has been a focus on intra-network col - laboration while maintaining independence. Their clients en - joy their boots-on-the-ground perspective that is backed by a global network. “The last five years have been some of the most economi - cally and societally tumultuous in CORFAC’s history, yet our members have stood strong together,” said 2024 president David Boyd, CCIM, SIOR, principal of Boyd Commercial/ CORFAC International in
Houston. “Our global network combined with local expertise and deep relationships brings value to CORFAC members and clients alike.” CORFAC has shown con - tinued growth in member - ship and referral activity. At its launch, CORFAC was established in about a dozen cities in the U.S. and Canada. In 2024, the network has 75 member offices in North and South America, Europe, the Middle East, and Asia – in - cluding a steady presence in the mid-Atlantic U.S. In addition, the average tenure
of a CORFAC firm exceeds 15 years. The leaders of five non-com - peting brokerage firms first discussed an independent net - work during an SIOR confer - ence. The idea was to create a network of people who knew each other and could share in - formation. To keep the focus on serving their clients, members were not obligated or incentiv - ized to refer business to one another. Over the years, the regular connections between CORFAC members have led to many cross-market referrals and intra-network deals.
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