Two days after closing an acquisition that nearly doubled its employee count in the Midwest, Transwestern Real Estate Services said it is acquiring two Washington, D.C.-based firms to beef up its tenant advisory services in the mid-Atlantic.
The Houston-based company said it is purchasing MGA and West, Lane & Schlager, collectively adding 16 brokers to Transwestern’s mid-Atlantic Tenant Advisory and Workplace business. The team currently consists of about 20 people located around D.C., Maryland and Virginia, according to Transwestern’s website. The entire Transwestern mid-Atlantic team is now up to about 265 employees.
The terms of the deals were not disclosed. The acquisition of MGA closed Jan. 1, and Transwestern signed a letter of intent to acquire West, Lane & Schlager in a deal that is scheduled to close later this month.
MGA is a full-service tenant representation firm that provides services such as workplace strategy, market intelligence, site selection and lease negotiation. Established in 2010, its clients include the Environmental Defense Fund, Share Our Strength and the Carnegie Institution for Science.
West, Lane & Schlager is a 25-year-old firm that offers tenant representation, investment services and construction management. Its clients primarily consist of nonprofit organizations, trade associations, government contractors and law firms.
The news comes on the heels of Transwestern’s acquisition of Chicago-based MB Real Estate, which brought 120 new employees to the company and increased its Midwest team to 300 members. It also added more than 12 million square feet of commercial real estate to Transwestern’s portfolio.
The recent expansion is an effort to strengthen its full-service capabilities in markets where it already has a presence, Transwestern said in the release announcing the acquisition of the two D.C. firms.
“The cultural alignment and complementary skill sets achieved through this acquisition better position us to anticipate and respond to where the market — and the industry — is headed,” Transwestern Real Estate Services President Tom Lawyer said in a statement.