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Two Philly firms merge.

In response to the economic realities of the real estate industry, two of Philadelphia's oldest and most prestigious real estate companies have joined forces. Total assets managed by the combined company are estimated at $2 billion.

Richard I. Rubin & Co. and Strouse Greenberg have completed the merger transaction.

The combined company will manage a total portfolio of 23 million square-feet, 17 million of which is retail space, with shopping centers from Massachusetts to Alabama. Included are such prestigious properties as Christiana Mall, Newark, Delaware; and Willow Grove Park, Willow Grove, Pennsylvania; both of which are among the highest in sales per square foot in the country; Southpark Mall, Charlotte, North Carolina; Depfford Mall, Deptford, New Jersey; Independence Mall, Wilmington, North Carolina and Mellon Bank Center office tower, Philadelphia. Clients include several of the leading domestic and international financial institutions and private partnerships.

Strouse, Greenberg, led by Samuel Switzenbaum, brings its expertise in commercial brokerage, retail development, leasing and third party management and its history of residential management, primarily in rental apartments, cooperatives, and condominium developments, with over 9,500 units in their portfolio, including The Philadelphia. The company has developed, and managed close to eight million square feet of regional malls and strips centers along the East Coast.

The company will be headquartered in Philadelphia with regional offices in Delaware, New Jersey and North Carolina.
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Title Annotation:Richard I. Rubin and Company Inc. merges with Strouse Greenberg and Company Inc.; Philadelphia, Pennsylvania
Publication:Real Estate Weekly
Date:Feb 2, 1993
Previous Article:Recession has ended, says retail report.
Next Article:Condo breaks ground on Phase II.

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