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Issue: 1113 Date: 12/22/2011
Become A Fan, Like St. Louis Chinese American News
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DESCO buys Coldwell Banker Commercial's St. Louis brokerage
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NAI DESCO, a commercial real estate firm, today said it will buy Coldwell Banker Commercial's St. Louis brokerage operation.
The move will increase DESCO's local property inventory and agents by 50 percent. The price was not revealed.
The move doesn't affect Coldwell Banker Gundaker, which is a separate residential realestate company.
Carl Conceller, a founding member of Coldwell Banker Commercial, will join NAIDESCO as a principal.
DESCO, based in Clayton, lists about 200 commercial properties and Coldwell about100. DESCO's listings include the Chrysler plant in Fenton, Northwest Plaza in St. Ann and the Merrill Lynch and Regions Bank buildings in Clayton.
DESCO, which is owned by the Schnuck family, was originally an acronym standing for Don and Ed Schnuck company. Its sister firm, the DESCO Group develops real estate including projects for the Schnucks supermarket chain.
Today's news was the second ownership switch in the local real estate business in the past week. Last Tuesday, Brookfield Residential Property Services of Canada bought Prudential Real Estate and Relocation Services, franchisor for the Prudential Alliance real estate operation in St. Louis.
Andrea Lawrence, president of Prudential Alliance Realtors, said she expects little change in the St. Louis operation. The realtors will continue to use the Prudential brand under the terms of the sale.
(St. Louis Post-Dispatch, 12/12/11) |
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