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THE GALBREATH CO. JOINS AFCO TO ENTER ATLANTA REAL ESTATE FIELD

 ATLANTA, Dec. 3 /PRNewswire/ -- The Galbreath Co., one of America's oldest and largest national commercial real estate firms, has established a full-service regional office in Atlanta.
 Galbreath and Atlanta's AFCO Realty Associates have announced creation of a new Atlanta company owned jointly by the two firms and operating as The Galbreath Co. Samuel G. Friedman, AFCO founder and president, is regional president and J. William Butler is regional executive vice president of the new firm, which includes some 30 current AFCO officers, brokers and employees.
 AFCO, founded by Friedman in 1971, is one of Atlanta's larger commercial real estate firms. It offers office and industrial sales and leasing, as well as land and investment property sales and property management. Friedman said AFCO in the last 12 months has handled some 225 sales and leasing transactions totaling approximately $100 million. He said the firm currently has in its management portfolio some two million square feet, including the historic Candler Warehouse.
 Two of AFCO's executives, Friedman and Jerome (Jerry) Mendel were awarded the Atlanta Board of Realtors' Alvin Cates trophy for last year's most outstanding Atlanta commercial real estate transaction -- the sale of the Presbyterian Center on Ponce de Leon Avenue to Grady Memorial Hospital as the site of Grady's new north campus.
 Founded in 1921 in Columbus, Ohio, the Galbreath Co. has developed more than 60 million square feet of office space nationwide, primarily for major U.S. corporations. It currently manages more than 65 million square feet of investment properties, commercial office buildings, corporate headquarters, government office buildings, and a variety of other facilities.
 There are some 3,000 Galbreath employees, with over 500 of them in the professional real estate field. In addition to its home office in Columbus, Ohio, the firm has regional offices in Chicago; Cleveland; Stamford, Conn.; Denver; Fort Lauderdale, Fla.; New York; Philadelphia; Pittsburgh and Cincinnati. In addition, the company has management and leasing offices in 33 cities, including Atlanta, in 20 states.
 Daniel M. Galbreath, the son of the company's founder, is chairman and chief executive officer. Sam L. Van Landingham, who joined the firm in 1991, is president and chief operating officer. Van Landingham has an Atlanta real estate background, having served five years with Portman Properties as executive vice president.
 Another of the company's nationally known executives is Lizanne Galbreath, vice chairman and head of national accounts. Based in New York, she has become one of the most successful women in the commercial real estate field.
 Dan Galbreath explained that what began as a midwestern-based development company that built 60 million square feet of space nationwide and was dubbed "Corporate America's developer," has been transformed into a multi-regional player by creating strong regional offices, including Atlanta, and operating as a single company for its corporate and institutional clients.
 "Atlanta is a key location for servicing our national clients," Galbreath said. "We bring to the market the resources to make a big impact on the property management business in Atlanta combined with AFCO's leasing, and marketing experience. We believe Atlanta has an outstanding future, and we are excited about becoming part of its success."
 Noting an acquaintance with AFCO from his Atlanta years, Van Landingham said AFCO and Galbreath share "the same values and culture."
 "We are not a network nor a franchise, but we are a relatively tight- knit and seamless organization," he said. "We have one image and one code of ethics, and we are proud of both."
 -0- 12/3/93
 /CONTACT: George Goodwin of Manning Selvage & Lee, 404-875-1444/


CO: The Galbreath Co.; AFCO Realty Associates ST: Georgia IN: SU:

BR-TG -- AT002 -- 0137 12/03/93 10:03 EST
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Publication:PR Newswire
Date:Dec 3, 1993
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