Corcoran HM Properties, an affiliate of New York City-based Corcoran Group LLC, has acquired a local residential real estate firm.

Corcoran officials announced their acquisition of Wilmington-based agency The Property Shop International Realty in a news release Thursday.

Valerie Mitchener, broker and owner of Corcoran HM Properties, stated in the release, “By partnering with The Property Shop International Realty in Wilmington, we are taking a significant and strategic step in our growth. Through combining Corcoran HM Properties’ innovative resources with The Property Shop International Realty’s local expertise, we are not only expanding our physical presence but also expanding our avenues of continued achievement in driving successful transactions and delivering exceptional service for our valued clients."

Founded in 2009, The Property Shop International Realty is owned and operated by Tony Harrington, a Wilmington resident for nearly 30 years and a real estate veteran who has held many professional roles across the industry on local, state and national levels, according to the release.

Harrington serves as the 2024 president of NC Realtors and specializes in economic development and international awareness for the organization’s roughly 56,000 members, the release stated. He also serves as a member of the National Association of Realtors Board of Directors and is a graduate of the National Association of Realtors Leadership Academy.

“Joining Corcoran HM Properties allows our brokerage to leverage a prestigious brand known for its exceptional service and extensive market reach, enhancing our ability to serve our clients more effectively,” Harrington stated in the release. “Now under the Corcoran banner, we gain access to unparalleled resources, industry expertise and an international network of top-tier professionals.”

The Property Shop has 18 agents and two offices in the Wilmington area. According to the release, the firm specializes in serving clients across local coastal communities, including Wrightsville Beach, Bald Head Island, Figure Eight Island, Carolina Beach, Kure Beach, Leland, Hampstead, Oak Island, Southport, Topsail Island and more. In 2022, the brokerage aided in one of the year’s most expensive real estate transactions for a coveted development area in Wilmington that sold for $15 million, the release stated.

With the addition of The Property Shop International Realty, Corcoran HM Properties has more than 160 agents across six offices in North Carolina and South Carolina, according to the release. Corcoran HM Properties has a South Carolina office in Charleston and three North Carolina offices – serving the Greater Charlotte Area and Lake Norman and the Wilmington and Burgaw areas.