Ponder Properties Commercial Real Estate and NAI Chase Commercial Realty have merged their operations.
Financial terms of the deal were not disclosed.
The firms have more than 58 years of market expertise and a combined leasing, sales, and property management inventory in excess of 4 million square feet plus over 240 acres for sale/ground lease commercial development land. The firms’ inventory includes a variety of office, retail, industrial and investment properties spread throughout Alabama.
NAI Chase has offices in Birmingham and Huntsville. Ponder is based in metro Birmingham.
“Both firms have a long legacy and tradition in the Birmingham market,” said Charlie Grelier Jr., president of NAI Chase Commercial Realty. “The merger brings together world-class expertise and a shared vision of strong relationships and commitment to our clients and customers.”
Randy Thomas, who has served as a partner at Ponder, will be named executive vice president and run the day-to-day operations in Birmingham’s Central Alabama region.
The merger will integrate NAI’s platform into daily brokerage operations for both firms.
“The combination of our professional brokerage teams and exceptional property management, construction and receivership services will create a synergy incomparable to other local commercial real estate firms,” said Terry Ponder, president of Ponder Properties. “We have tremendous respect for the NAI Chase team and their impact on the Alabama commercial real estate market, particularly the impressive growth and market share they have secured in Huntsville and throughout the North Alabama region.”
Since 1992, NAI Chase Commercial has been part of the NAI Global network, which includes more than 375 offices around the world.
Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.