KLNB, LLC ACHIEVES MORE THAN $1.1 BILLION IN COMMERCIAL REAL ESTATE TRANSACTIONS IN 2008
Overall value of transactions for real estate services firm, which maintains five offices throughout Maryland, Washington, D.C. and Northern Virginia, falls slightly
Baltimore, MD (January 19, 2009) – KLNB, LLC announced the achievement of $1.1 billion in commercial real estate transactions through five full-service offices covering the Maryland, Washington, D.C. and Northern Virginia markets in 2008. Cumulatively, the company leased or sold in excess of nine million square feet of commercial office, warehouse, industrial and retail space in the region, on the strength of more than 900 separate transactions. KLNB employs 71 full-time commercial real estate professionals, of which 34 are principals of the company
KLNB, LLC is the holding company that includes NAI KLNB, a division that focuses on the sale and leasing of commercial office, industrial and warehouse properties, as well as KLNB Retail, which specializes in the sale and leasing of retail projects as well as tenant representation. The company is headquartered in Towson, MD and features offices in Columbia, MD; Washington, D.C.; and Tysons Corner and Loudoun County Virginia. Founded in 1968, KLNB celebrated its fortieth year of operations in 2008 and remains among the only independently-owned and managed commercial real estate brokerage firms in the Baltimore-Washington region.
Final 2008 figures were slightly lower than the ones achieved in 2007, when KLNB reported the leasing and sale of approximately ten million square feet of space for a total value of $1.3 billion. The amount of square feet of space fell by approximately 9% and 2.5% less sales transactions occurred in the year just concluded.
“Despite the many negative reports describing the state of the commercial and retail real estate industry within our market footprint, our team achieved sales and leasing numbers in close proportion to those reached in 2007,” stated Andy Georgelakos, Managing Partner with KLNB, LLC. “These recent numbers speak well to the strength and resourcefulness of our team, combined with the continued vitality and diversity that we are experiencing in our core markets.
KLNB, LLC announces results for 2008 – page 2
“As new companies and individuals continue to enter our region, thanks to our location near the Nation’s Capitol, the coat tail effect generated by the federal government and the impending activity from the Base Realignment and Closure (BRAC) process, we envision steady activity for the year ahead,” he added.
KLNB, LLC provides a full range of brokerage, financial and investment services and strategic advisory services to the commercial office, industrial and retail sectors
For additional information, Contact:
Larry Lichtenauer
LH&A, Inc.
410-363-6205
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