CORFAC News

Danbury, CT and Ft. Lauderdale, FL (March 25, 2013) – Todd Payne, SIOR and Principal of Goodfellow Ashmore CORFAC/International based in Danbury CT, and Ken Morris, SIOR and Principal of Morris Southeast Group/CORFAC International based in Ft. Lauderdale FL, jointly announced that they have formed a strategic alliance that will focus on turnkey investment services including property acquisition, leasing, construction management and property  management of Florida commercial real estate property on behalf of investors from the Northeastern United States.

The two firms will initially target South Florida commercial property, particularly office, retail and industrial buildings that have good fundamentals for investor returns. In addition, the alliance will look for ‘value-add’ building acquisition opportunities – or properties whose values could be increased if remodeled and repositioned with new marketing and a stronger tenant base.

Payne and Morris have known each other for many years through their mutual affiliation with CORFAC International (Corporate Facility Advisors), which has 86 affiliated offices worldwide and 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. 

“Our company has relationships with numerous private investors throughout the Northeast that have investment interests in Florida commercial property. Forming an alliance with Morris Southeast Group will provide us with ‘boots on the ground,’ local market knowledge and a well-known, trusted name in the South Florida business community. These are the elements that make out-of-state investors much more comfortable with their decision making when purchasing commercial property,” said Payne.

Payne is no stranger to South Florida and has a 50-year family history of property investing and ownership in Ft. Lauderdale. And again, it ties in nicely with Morris’ 30+ years of represented buyers and sellers, landlords and occupiers in the primary urban markets of South Florida.

“The fact that Todd and I each have family-originated businesses and still run personalized, high-touch service businesses is a clear complement to what we intend to do with this niche. There is renewed interest in buying Florida real estate and we think it will be a successful venture,” said Morris.

Morris Southeast Group/CORFAC International was founded in 1978 by Ken Morris’ father, Allen I. Morris, while Goodfellow Ashmore CORFAC International was established in 1934 by Todd Payne’s grandfather, Robert Goodfellow, who turned 100 on January 28 this year.

Business terms of the strategic alliance were not disclosed.

About Goodfellow Ashmore/CORFAC International
Established in 1934, Goodfellow Ashmore/CORFAC International is the largest and oldest commercial real estate brokerage firm in Western Connecticut.  As a real estate services provider to institutions, corporations, small businesses and individuals, Goodfellow Ashmore offers commercial and residential brokerage, asset and property management, construction, development, as well as investment services.  For additional information on Goodfellow Ashmore please contact Todd E. Payne, SIOR president at tep@goodfellows.com or visit www.goodfellows.com.

About Morris Southeast Group/CORFAC International
Founded in 1978, Morris Southeast Group provides leasing, investment sales, property management and project management services throughout South Florida.  For Miami Tenant Representation, South Florida Commercial Property, finding a Ft. Lauderdale Commercial Real Estate Broker and Landlord Representation in Broward, Dade and Palm Beach counties, contact President Ken Morris, SIOR, of Morris Southeast Group/CORFAC International at (954) 474-1776 or visit www.morrissegroup.com.