D.C.-based commercial real estate brokerage company KLNB has acquired Rockville, Maryland-based broker Edge Commercial Real Estate for an undisclosed sum, adding multi-family properties to its portfolio.
KLNB is already the largest independent brokerage in the mid-Atlantic when it comes to retail, office and industrial leasing, sales and property management.
Edge also has offices in D.C., Pittsburgh, and Tysons, Virginia. It gives KLNB its first office in Montgomery County, Maryland. KLNB also has offices in Columbia, Maryland, Tysons and Baltimore.
The acquisition expands KLNB’s multi-family and industrial tenant representation.
In its 16 years, Edge has logged $9.5 billion in mid-Atlantic multi-family sales, representing both buyers and sellers, office-to-residential conversations and adaptive reuse projects. The deal will also expand KLNB’s property management portfolio.
“By acquiring Edge, we will be able to do virtually everything we’re already known for, but at an even higher level and wider reach. And in the case of multi-family, this opportunity brings the KLNB customer experience to a whole new sector that we have wanted to approach for some time,” KLNB President Marc Menick said.
KLNB had $1.8 billion in transaction volume and 1,170 transactions in 2022, a record year for the company. Edge had $492 million in transaction volume and 231 transaction last year.