Industrial Concept Brokerage (ICB) acquires real estate firm

Industrial Concepts Brokerage (ICB) expands its footprint in real estate market with acquisition of 58-year old Medford residential real estate firm. Firm adds two offices, 12 employees with Medford acquisition.
By: PR First
 
June 3, 2011 - PRLog -- Industrial Concepts Brokerage (ICB), a Swampscott, MA firm specializing in marketing and re-purposing of industrial and commercial non-conforming properties, has expanded its position in the Greater Boston real estate market with the recent acquisition of the 58-year old residential real estate firm, Wolfson Cutler Real Estate, in Medford, for an undisclosed sum.

Fred Massa, President of ICB, incorporated his Swampscott-based industrial/commercial brokerage firm in 2008. Up until this acquisition, the firm has not had a residential real estate presence in the market, concentrating on properties suited for manufacturing, industrial warehouses, distribution centers, commercial multi-family dwellings, and more.

The acquisition of the three-generation  residential real estate firm was completed in May, according to Massa. Wolfson Cutler has 12 employees and specializes in the residential market.  Massa said that both Richard Wolfson and Marc Cutler, the former partners of Wolfson Cutler, will remain with the firm and will each continue to play key roles in the growth of the company. Richard Wolfson will serve the firm as Broker/Consultant.

ICB plans to retain the existing team as well. ICB will also move some of its industrial brokerage operations to the Medford office, located at 366 Salem Street.

In addition to the main office, a 1200 square foot location ICB will also pick up a second office in Medford currently run by Wolfson Cutler, a satellite office at 379 Main Street, near Tufts University, where ICB plans to establish a ‘rental agent’ office for student housing.

ICB will retain the name Wolfson Cutler Real Estate, as well as the Medford location. “This is a well-respected firm with a stellar reputation,” said Massa, adding, “We are very pleased with the gracious reception we have gotten from the entire Wolfson-Cutler team. We look forward to working with them to help build on the great success that they have achieved.”

Massa will become President of Wolfson Cutler Real Estate; and his son, David, will serve as Director of Marketing for both Wolfson Cutler and ICB.  The ICB office now expands to include the original location in Swampscott, and two locations in Medford, as well as 12 additional employees.  He plans to integrate the services of ICB into the Wolfson Cutler operation, where the residential real estate firm may also assist with some of the industrial/commercial property listings.



About Industrial Concepts Brokerage
Industrial Concepts Brokerage (ICB) specializes in industrial and commercial real estate property, particularly those which are considered difficult to market or non-conforming. ICB brings significant expertise in marketing these properties, which range from manufacturing to warehouse to distribution. The company offers a team of experienced professionals to provide efficient, cost effective commercial real estate and business brokerage services, utilizing experience and established relationships with developers, governmental buying agencies, municipal and state governments; and, partnerships with consulting firms in the fields of land surveying, wetland delineation, traffic, geotechnical, environmental engineering. ICB utilizes this experience helping to set objective price and negotiation points. ICB maintains locations at 380 Humphrey Street,  Swampscott, MA and 366 Salem Street, Medford, MA. For additional information, please call 617.459.4094 or visit www.ibcllc.com.
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Source:PR First
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Tags:Residential Real Estate, Commercial Real Estate, Industrial Real Estate, Real Estate Brokerage
Industry:Real Estate
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