RIPCO Real Estate is widening its curiosity within the restaurant enterprise.
RIPCO acquired restaurant brokerage Branded Concept Development, the Commercial Observer reported. Terms of the acquisition weren’t disclosed.
Under the phrases of the acquisition, BCD and its 4 New York City-based brokers will stay an impartial entity and develop into extra markets, together with New Jersey, Long Island, Connecticut and Florida. BCD CEO Andrew Moger will tackle the title of RIPCO vice chairman.
BCD is a leasing brokerage centered on meals and beverage manufacturers. The agency, which was based in 2001, contains native shoppers akin to Westville and The Smith, in addition to bigger nationwide shoppers like Benihana and Panera Bread.
This is BCD’s second large change in as a few years. Last 12 months, the agency’s undertaking administration division was acquired by Philadelphia-based actual property consulting agency Watchdog Real Estate Project Management. The acquisition was designed for Watchdog to develop its buyer base within the tri-state space, whereas BCD may take its providers nationwide.
BCD’s brokerage division remained separate from the areas acquired by Watchdog.
RIPCO has been a business actual property brokerage for 3 many years, however has zeroed in on submarkets, just like the hashish sector.
The brokerage established a group within the wake of New York’s legalization of marijuana to deal with representing tenants and landlords trying to lease house for leisure and medical marijuana gross sales within the tri-state space. As of late February, RIPCO had 35 shoppers that took a collective 125,000 sq. toes throughout the area.
[CO] — Holden Walter-Warner
Need Your Help Today. Your $1 can change life.