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Featured Mergers and Acquisitions

Brooklyn brokerage upstart begins expansion with acquisition of PA firm

Tri State Commercial Realty, a commercial real estate advisory and brokerage firm in New York City, has acquired Precision Realty Group, which has offices in Philadelphia and Berwyn, PA.

The firm has been rebranded as TSC Precision. Both companies focus on leasing and investment sales transactions.

SHLOMI BAGDADI

Tri State Commercial Realty was founded in 2014 by its president, Shlomi Bagdadi, a Syria-born entrepreneur who has grown his firm to include 65 broker who closed 20 percent of all retail leases signed in Brooklyn last year.

TSC Precision was founded in 2007 by Shaun Lyons and Steve Jeffries. Lyons holds the title of president, and Jeffries is a partner in the company.

Specializing in office, retail and industrial properties, Tri State Commercial Realty serves the New York, New Jersey and Connecticut markets. TSC Precision serves the same asset classes and focuses on neighborhoods in and around Philadelphia’s Center City, as well as in other locations across Pennsylvania and in New Jersey. Delaware, Massachusetts, Illinois and Georgia.

“TSC Precision stands as one of the premier commercial real estate brokerages in the Philadelphia region,” said Bagdadi. “This acquisition enables us to serve our clients better through building a wider network in the market, while still providing the local expertise for which we are known. We’ll be better able to serve clients along the I-95 corridor by leveraging our extensive network.” 

He noted that both companies invest significantly in technology, office efficiency and workforce development, and that both emphasize customer service as a prime driver of business success.

“Our two companies share both a successful track record and a strong commitment to excellence,” said Lyons. “We aim to further improve and expand upon what each firm has built within its respective major cities. We’ll continue fortifying our reputation for exceeding clients’ expectations and delivering superior services in the areas of sales and leasing.”

“This is a huge milestone for Precision’s growth and the capabilities we offer our clients,” added Jeffries. “Tri State Commercial Realty’s infrastructure, technology and culture will provide our clients with new opportunities through broader marketing, enhanced staffing, additional agents, and improved human efficiency overall.”

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