Michigan-based Friedman Real Estate has opened its first office in Texas.
The Houston office opened the first week of July and is overseen by Mark Zeidman, vice president of brokerage services. Zeidman joined Friedman in May after serving as chief lending officer and director of acquisitions for PrivCap Cos., according to a press release.
Friedman’s Houston office at 333 Cypress Run, near Barker Cypress Road and Interstate 10. The office is around 1,200 square feet and started out with a four-person staff: three brokers and a property manager, Zeidman told the Houston Business Journal. He expects the number of brokers to expand to six within the first year.
The firm also has some staff at the local properties it manages, Zeidman said. Currently, Friedman is managing and/or leasing 700,000 square feet of office, industrial and retail properties in the Houston area, he said. The firm also plans to add multifamily properties to its Houston portfolio.
Nationwide, Friedman has more than 550 employees, Zeidman said. In addition to its headquarters in the Detroit suburb of Farmington Hills, Friedman also has offices in the Detroit suburb of Southfield; Columbus, Ohio; Deerfield Beach, Florida; Phoenix; and Chicago, according to the company’s website. The firm’s commercial portfolio is spread across 29 states, which includes managing more than 140 commercial properties encompassing more than 16 million square feet and more than 10,000 apartment units, per the release. On the brokerage side, the firm has more than 800 current listings nationwide with $10 billion in closed transactions.
“We are excited about our expansion into the Texas markets,” David Friedman, the firm’s president and CEO, said in the release. “Our new regional office will allow us to expand our fully integrated platform into yet another region of the country and to significantly increase the size of our real estate portfolio.”
The Michigan-based firm also has offices in Ohio, Florida, Phoenix and Chicago.