Transwestern significantly expanded its industrial service line in Chicago with the acquisition this week of Epic Realty Partners, a 20-person industrial real estate firm based in Rosemont, IL. Terms of the acquisition were not disclosed.
Epic, which completed 225 transactions totaling 9.2 million square feet with an aggregate value of $216.7 million in 2013, was previously aligned with New York-based Newmark Grubb Knight Frank, but both firms decided not to renew that agreement after it expired at the end of 2013.
The acquisition establishes Transwestern as one of the top five industrial real estate service providers in one of the largest industrial real estate markets in the U.S.
Mike Watts, Transwestern’s Midwest president, said the new team will work with Transwestern brokers across its 34 U.S. markets to serve their industrial client base.
"Epic joined Transwestern because we knew the firm’s full-service offerings could expedite our aggressive expansion plans," said John Coleman, executive managing principal of Epic, in a statement announcing the acquisition. "We took the time to find the right partner that would deliver the best available real estate services to our clients."