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Coldwell Banker Commercial NRT Acquires Jack Lupo Realty Company in Boca Raton, Fla.
SARASOTA, Fla. – March 8, 2006
Coldwell Banker Commercial NRT in Florida today announced that it has acquired the assets of Jack Lupo Realty Company, Inc., located at 2295 Corporate Blvd. in Boca Raton. Jack Lupo Realty’s 18 commercial sales associates will continue to operate from their current location under the banner of Coldwell Banker Commercial NRT.
Jack Lupo Realty Company has more than six decades of experience in handling transactions for a full range of commercial properties. With this announcement, the Florida operations of Coldwell Banker Commercial NRT now has over 270 sales associates operating in nine major Florida markets, including Broward, Central Florida, Charlotte and Lee Counties, Naples, Miami-Dade, Northwest Florida, Palm Beach, Sarasota Bay and Tampa Bay. In 2005, Coldwell Banker Commercial NRT in Florida and Jack Lupo Realty Company accounted for a combined total closed sales volume of nearly $1.8 billion.
“We are always looking for solid business opportunities, and by combining forces with Jack Lupo Realty Company, we will expand our commercial real estate business in the dynamic Palm Beach market,” said Budge Huskey, president and chief operating officer for Coldwell Banker Commercial NRT in Florida. “Jack Lupo Realty enjoys an excellent reputation in the community, based on the dedication of its commercial real estate professionals, and we are very pleased to welcome them to the Coldwell Banker Commercial NRT family.”
Jack Lupo Realty Company has become one of South Florida’s most respected commercial real estate firms. Founded in 1939, Jack Lupo Realty was a family-run business until 2003 when the owner, Jack Lupo, sold it to four of his sales associates — Ron Kent, Mike Ball, Tom Robertson and Duff Robin. They will remain with the newly combined company, continuing their sales and leasing activities from their present location as part of the Coldwell Banker Commercial NRT team serving the Palm Beaches and Southeast Florida.
“We felt this was the right time to join forces with one of Florida’s premier commercial real estate firms,” said Ron Kent, president for Jack Lupo Realty Company. “Coldwell Banker Commercial NRT offers world-class resources that we believe will ensure a positive future for our commercial sales professionals.”
Coldwell Banker Commercial NRT operates in 17 states as the commercial real estate arm of NRT Incorporated, a subsidiary of Cendant Corporation (NYSE: CD). Coldwell Banker Commercial NRT is part of the Coldwell Banker Commercial® system, which operates in North America, South America, Europe, Africa, Asia and Australia. Coldwell Banker Commercial is an industry leader in providing commercial real estate solutions that serve the needs of tenants, landlords, sellers and buyers in the leasing, acquisition, disposition and management of all property types. For more information, visit the company's Web site at www.coldwellbankercommercialnrt.com.
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