Two Wilmington-based commercial real estate firms, MoMentum Companies and Integral Commercial Group, have joined forces, according to a news release.
As part of the acquisition, MoMentum Companies is welcoming Adam Nicholas as its chief operating officer. According to the release, Nicholas and his team of professionals bring “a wealth of experience in commercial real estate and business brokerage, with emphases in investment sales, financial oversight of real estate and investment holdings, real estate market analysis, contract negotiations, and business sales.”
In the release, moMentum Companies President Terry Espy said, “I have long admired the exceptional work of Adam and his team, whose dedication and expertise have enabled their firm to create a robust and successful platform in the commercial real estate and business brokerage sectors.”
The financial details of the acquisition were not disclosed. This acquisition increases MoMentum’s size significantly, adding nine employees, five licensed brokers specializing in multiple facets of sales and leasing and four individuals focusing on business brokerage. The MoMentum team is now composed of 21 staff and brokers.
“The acquisition instantly delivers significant advantages for MoMentum’s business brokerage sector, a specialty that has grown significantly over the past two years and is currently responsible for 45% of the company’s revenue,” the release stated.
Nicholas stated in the release, “This acquisition represents a strategic step towards expanding our vision for growth and reinforces our commitment to delivering unparalleled service to our clients and our community.”