W.W. Reynolds Cos. acquires Freeman Myre Inc.

BOULDER — W.W. Reynolds Cos. has acquired Freeman Myre Inc., a commercial real estate brokerage and property-management firm, from Andrew Freeman.

Financial terms of the deal between the two Boulder-based firms were not disclosed.

Freeman Myre Inc. was a subsidiary of Freeman Capital Management, a commercial real estate investment and development firm that Freeman still owns.

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Freeman will continue to focus on acquisitions in Colorado and Chicago under Freeman Capital Management while providing asset-management services for its Colorado portfolio. The company’s property-management director, Tom Newman, and assistant property manager Rico Espinosa will continue to handle the leasing and management for the Colorado portfolio under the W.W. Reynolds platform.

Freeman started Freeman Myre Inc. in 2000 and since then has completed several large transactions with companies such as Lockheed Martin Corp., Sierra Nevada Corp., Hunter Douglas, Minute Key, Benjamin West and the former Storage Technology Corp.

Most recently, the company shifted its focus to real estate acquisitions, and as part of this new direction, added both property- and project-management services. The portfolio now includes more than 500,000 square feet, with 13 properties in Colorado and a recent acquisition of a 30,000-square-foot industrial building in Bensenville, Ill.,  a suburb of Chicago. Freeman and silent partners will continue to own properties acquired by FCM, while W.W. Reynolds will manage them.

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W.W. Reynolds, founded by Bill Reynolds in 1966, manages approximately 4 million square feet of commercial retail, office and industrial properties along the Colorado Front Range.   

“With the consolidation of the commercial real estate industry and the quickly changing world of technology, it became increasing difficult to provide the level of services we wanted for our clients,” Freeman said in a prepared statement. “After considering different expansion options, we were most impressed by The W.W. Reynolds Cos. The company is one of the top real estate companies in Colorado and provides cutting-edge services to its clients.”   

Jeff Wingert, president of W.W. Reynolds Cos., said W.W. Reynolds has worked with Freeman since the early 1990s.

“When Andrew approached us about the merger, we felt like it would be a solid fit as our company looks to expand both its asset- and property-management portfolio,” Wingert said.