Oliver Luxury Real Estate of Tahoe, Reno sold to New York’s Corcoran Group
RENO, Nev. — Oliver Luxury Real Estate of Lake Tahoe and Reno and Bay Area’s Zephyr Real Estate have been acquired by the Corcoran Group.
Corcoran is franchising its branding and the new affiliate will be called Corcoran Global Living, the New York-based brokerage announced in a Feb. 5 press release.
Terms of the acquisition were not disclosed.
Corcoran Global Living consists of 13 offices and 450 agents who have produced $2.6 billion in sales; the merged company will serve the San Francisco, Marin County, Lake Tahoe and Reno markets.
“With our deep experience in high-end, competitive East Coast markets, it is a natural move for Corcoran to head west with our first franchise affiliate,” Corcoran President and CEO Pamela Liebman said in the release. “The launch of Corcoran Global Living is a huge first step in our franchise ambitions, combining two leading firms to form one powerhouse company.”
Corcoran Global Living will be led by founder and CEO Michael Mahon, who has formerly held top executive positions as president of the independent brokerages of HER Realtors of the Midwest, and First Team Real Estate of Southern California.
“We’re building something unique with Corcoran Global Living,” said Mahon. “(It) sets forth our foundation of uniting independent brokerages and top-performing sales associates across many of the most desired communities throughout the Western United States.”
Ernest Packaging Solutions has leased 133,108 square feet at Dermody Properties’ LogistiCenter at 395 Phase II, Building 1, leaving 47,952 square feet still available.