Yerman Witman Gaines and Conklin Realty LLC is opening its eighth office in Severn, and plans to expand its presence in Bel Air, as company leaders hope to cash in on the residential growth expected from the Base Realignment and Closure.
Located at the Severn Square Shopping Center, the office will open May 18 with 12 agents staffing the firm, says William Yerman, CEO of parent company the Strata Group. The 3,000-square-foot office will employ 50 realtors within a year.
The office is across from Fort George G. Meade, where the federal government is transferring nearly 6,000 jobs from Fort Monmouth, N.J. by 2015.
"It's an underserved area in an important time," Yerman says of the Severn market.
Growth from BRAC is also the reason why the company wants to expand its 1,500-square-foot Bel Air office. By the end of summer, the company will open a satellite location in Fells Point or Canton to replace the Canton office whose lease expired earlier this month.
The real estate firm recently opened an office at McHenry Row, a residential, shopping and office complex in Baltimore City's Locust Point neighborhood.
Headquartered in Baltimore, the Strata group has offices in Baltimore, Carroll, Harford and Anne Arundel Counties. Its businesses include a mortgage firm, a title company and a financial services firm. It was founded in 2007.
Writer: Julekha Dash
Source: William Yerman, the Strata Group