FALLS CHURCH, Va., Jan. 29, 2014 (GLOBE NEWSWIRE) -- CORFAC International President Robert Tillsley, SIOR, is very pleased to announce the 25th anniversary of Corporate Facility Advisors (CORFAC International). CORFAC is a network of independently owned commercial real estate companies with 65 offices in North America and market reach in 60 countries worldwide.
CORFAC International was incorporated in 1989 as a not-for-profit association with the goal of becoming an affiliation of like-minded commercial real estate service companies. The business model is unlike other commercial real estate networks because affiliation is dues-based and the organization is governed by a Board representing the member firms.
The initial concept for CORFAC International came from Charlie King Jr., SIOR, principal with King Industrial Realty/CORFAC International in Atlanta, GA. The idea started in November 1986 in the coffee shop of the Grand Hyatt Hotel in Manhattan during an SIOR convention. The founding members were interested in starting a new kind of referral network, one built on personal relationships and with invitation-only membership.
"We wanted to have the ability to compete for business on a national basis and yet remain true to our roots as local service providers foremost – more Main Street than Wall Street. We knew we were never going to be like one of the big national companies, but then we didn't want to be like them. We intentionally established a network of companies in which the principals are closely involved in running their businesses and personally involved in brokerage transactions," said King.
King attributes the early success of CORFAC International to establishing a core group of companies who came together to implement the vision.
"The credit goes to Steve Podolsky, Mike Jacobus and Al McConkey. They were all SIOR members and they used their contacts, made the calls, and set up the meetings," he said. Steven H. Podolsky, SIOR is a principal with Podolsky|Circle CORFAC International in Chicago; Michael Jacobus, SIOR is a principal with McBride Corporate Real Estate/CORFAC International in Paramus, NJ and the late Al McConkey, SIOR was with King Industrial Realty/CORFAC International in Atlanta.
"I'm proud of the organization's sustainability; proud of the consistent quality of firms that we've been able to attract; and proud of our national rankings as compared to national companies and competing networks. We've been able to establish strong international affiliations and our sustainability comes from our people and starts with our past presidents, who continue their involvement at a high level," said Steve Podolsky. He served as president in 1992.
King adds that one of the core features of the CORFAC network model – not charging fees off the top when two or more real estate brokers work on a multimarket assignment- has been an important differentiator for the CORFAC network.
2014 President Robert Tillsley, SIOR attributes CORFAC's success to the long-term relationships that individuals and affiliated firms have established over the years.
"We see each other a couple times a year at our national conferences. We help each other with ideas and best practices for running our businesses – everything from lease administration forms to technology and succession planning. Valuable information is only a phone call away. For many of us we've become friends, we trust each other," Tillsley said.
About CORFAC International
CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. In association with FIABCI (the International Real Estate Federation) and global affiliates, CORFAC International offers commercial real estate services with market reach in 65 countries worldwide. In recent years, CORFAC firms have averaged over 9600 completed transactions annually totaling more than 513 million square feet worth an excess of $5.95 billion for their customers. For more information on the CORFAC network, contact 703.532.6160 or visit www.corfac.com.