CORFAC News

Alliance of leading entrepreneurial and privately held commercial real estate brokerage and property management firms commemorates history at fall conference in Charleston, SC

Hollywood, FL (August 26, 2009) –CORFAC International, an invitation-only alliance of leading entrepreneurial and privately held commercial real estate brokerage and property management firms, marks the 20th anniversary of its formation this year and will commemorate the origins and history of the organization at its fall conference in Charleston, SC from September 1 – 3. CORFAC International was launched in 1989 and now serves 62 markets in the U.S., Canada and Mexico, with additional international reach covering 150 markets through its strategic alliance with UK-based King Sturge. In 20 years, the organization has evolved from a small collegial group of SIOR designates* to an alliance of more than 700 real estate professionals covering North America, South America, UK, Europe and the Pacific Rim. *(SIOR is The Society of Industrial and Office Realtors, a professional organization serving commercial brokerage specialists worldwide, featuring education, a code of ethics, events and a searchable member directory.)The basis of CORFAC International was to have an intensely local and importantly, an elective network of commercial real estate professionals that were experts in their respective business practices and primarily principals of their own firms. Additionally, CORFAC founders wanted every participating firm to subscribe to the highest levels of professional standards, integrity, individual accountability, and ethical business practices while consistently producing superior client results.“In the 20 years since CORFAC International’s founding, much has changed about the world, but for us the focus has remained true; we’ve built our success on an operating platform that provides our clients with tangible, realistic and superior real estate solutions,” said CORFAC International President Jeff Graham, SIOR. Mr. Graham is also president of King Industrial Realty/CORFAC International, based in Jacksonville, FL.“Celebrating this milestone is a terrific opportunity to look back on what has made CORFAC International successful -- and it’s a great way to kick off our next 20 years.”CORFAC was brought into the public limelight in 1989, with recruiting that came primarily from SIOR. This tactic brought in reputable firms its founders were familiar with and whose principals were colleagues. The process allowed CORFAC to recruit easily and create the critical mass necessary to launch the organization. The group initially met in 1986, where the original presentation of the idea to form a new network was made in the coffee shop of the Grand Hyatt Hotel in Manhattan during an SIOR convention. Present at the breakfast were Charlie King, SIOR and Al McConkey, SIOR from King Industrial Realty of Atlanta, Stephen Blau, SIOR of Quadrangle Realty of Chicago, Mike Jacobus, SIOR of McBride Corporate Real Estate in NJ, and Steve Podolsky, SIOR of Podolsky Northstar Realty Partners in Chicago. At the time, the group was planning to call itself “Association of Corporate Real Estate Specialists” or “ACRES,” but eventually changed to CORFAC “Corporate Facility Advisors.”By the early 1990s CORFAC’s Board of Directors had determined that an international partner would be required to stay competitive in corporate services. With the help of an outside friend familiar with the international real estate community, a CORFAC task force identified several London-based firms that either had an international presence or were intent on creating one. Among the firms that emerged as the leading candidate was King Sturge. In May of 1994, CORFAC and King Sturge held a series of meetings at the World Congress of the International Real Estate Federation (FIABCI) held in Chicago. The meetings led to the December, 1994 joint venture agreement for future business development and collaboration that was signed in Charlie King’s Atlanta office.“CORFAC International is a leader in real estate services because the same values of ourfounding – high-quality service and an absolute commitment to clients; which remains central to our mission,” said Tom Bennett, executive director of CORFAC International.  “CORFAC International has grown into an organization that specializes in the sharing of best practices, providing a platform for professional and personal development and of course the building of relationships that foster global real estate transactions.”