Fratzke Commercial Real Estate Advisors has acquired the commercial real estate services and property management side of COLM Commercial Real Estate Services.
The acquisition brings another 700,000 square feet under Fratzke’s management for a total 1.2 million square feet, Brian Fratzke, principal broker, said recently. Terms of the acquisition were not disclosed.
“They’re taking and implementing most of what we’ve had in place,” said Greg Jacobs,principal broker and asset manager at COLM. “We have a long history and (Fratzke) liked what we did.”
Jacobs joined the 35-year-old firm in 2003 and purchased it in 2010. He said he plans to spend a few hours each week in brokerage and focus on family matters.
He said Fratzke Commercial Real Estate promises a seamless transition for COLM clients. Jacobs said he contracted with Fratzke for 18 months to help with the changeover.
Fratzke said three COLM employees will transfer to his firm, making a total of five in the Fratzke property management division. The acquisition makes Fratzke Commercial Real Estate one of the larger commercial property management companies in Central Oregon.
“We have similar cultures, similar tech platforms,” he said. “That made things a little easier.”
— Joseph Ditzler