CBCAA Moves Into Larger Office Space

NEWARK, DE-Coldwell Banker Commercial Amato Associates is moving into larger office space here after experiencing exponential growth since the practice joined the Coldwell Banker Commercial franchise in 2000. From its new diggs, it plans to open new offices in Maryland and Pennsylvania over the next few years, as well as at least one more in Delaware.

Susan Amato, president of CBCAA, tells GlobeSt.com that when the firm first became affiliated with the Coldwell brand, it experienced a substantial increase–by 40%–in initial growth. “We were able to tap into the larger deals in the market,” she explains. From that point, the size of the transactions the company handles has been increasing by 20% each year. “Based on per agent, sale volumes have increased each year by about 15% over the last five years.” Another telling growth metric for the firm, she says, is that it has increased staff by 90% over the last three years.

Other benchmarks CBCAA has realized over the years include the opening of a new Dover office to manage commercial demand in Kent and Sussex Counties; and the launch, in 2007, of a full-service Facilities Management division. The firm is a full-service real estate firm, handling investment sales in most asset classes and property and facilities management. It has slightly less than one million sf under management.

Future plans include the hire of at least five more professionals in Newark and three to four in Dover this year, she says. The company also holds licenses for Maryland and Pennsylvania and is active in those states–albeit without a physical presence. Amato says the company’s five-year plan includes opening offices in both Maryland and southern Pennsylvania, as well as another one in Delaware.

The company is moving to 875 AAA Blvd., a 13,000-sf office owned by a local partnership of which Amato is a partner. CBCAA is occupying 5,000-sf in the newly renovated building with two medical offices–Just Kids Pediatrics and Just for Women OBGyn. The ribbon cutting ceremony for the new office will be held on Monday and will be attended by Delaware governor Ruth Ann Minner and Coldwell Banker Commercial president and COO Rick Davidson.