LMS announces collaborative transaction with Paramount Realty
LANCASTER, PA - January 16, 2015 - LMS Commercial Real Estate, a private family-owned, full service commercial real estate company based in Lancaster, PA, announces it has reached an agreement to bring Paramount Realty Services, Inc. of Lakewood, NJ to the Central Pennsylvania region. LMS Commercial Real Estate arranged the sale of over 30 assets, encompassing 2 million square feet, to affiliates of Paramount Realty. With this transaction, Paramount Realty will have assets in excess of $1 billion, ownership of approximately 7.5 million square feet and leasing assignments in excess of 13 million square feet throughout Connecticut, Maryland, Massachusetts, New Jersey and Pennsylvania. Brandon Famous of CBRE/Fameco provided consulting services.
Joseph R. Deerin and Donna Deerin Ward of LMS Commercial Real Estate spoke of the recent transaction, "We are looking forward to integrating LMS Commercial Real Estate's experience and regional presence with the strength of the Paramount Realty team."
Paramount Realty Services, Inc. is a private family-owned, full service commercial real estate company. Maurice and Lee Zekaria of Paramount Realty spoke of the transaction, "We are excited about our entrance into the Central Pennsylvania market, and continuing LMS Commercial Real Estate's commitment to excellence in leasing, management, tenant representation and sales with the guidance of Joe and Donna."