KLNB Announces Retirement of Managing Partner Andy Georgelakos

-- Decision to Retire Follows Two Years of Highest Transaction Volumes Ever Achieved at KLNB --

-- Strategic Search is Underway in D.C./Northern Virginia region for Successor --

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Mar 22, 2017, 10:08 ET

BALTIMORE, March 22, 2017 /PRNewswire-USNewswire/ -- KLNB, the full-service commercial real estate brokerage, today announced that Andrew J. Georgelakos, principal and managing partner will retire June 30, 2017. Georgelakos will leave KLNB after leading the firm to its two most successful years, with nearly $1.5 billion in annual transaction volume for both 2015 and 2016.

Among his many achievements, one of the most notable was Georgelakos' foresight in the early 2000s about the potential for expansion around the Washington Dulles International Airport. With his encouragement, St. John Properties and Merritt Properties expanded from the Baltimore region into the burgeoning Northern Virginia market. The subsequent sales led to expansive growth in revenue, company size and geographic reach for KLNB.

Georgelakos joined KLNB in 1985 as a broker and was named interim managing partner in 2000. Looking back at his 31 years at KLNB, Georgelakos says he is most proud of the firm's status as an employee-owned company. "Young people who are willing to work really hard and embrace their entrepreneurial spirit have the very special opportunity to earn a share of the business. We end each year debt-free, with the ability to reward those shareholders with the profit," he said. "The success of our company is fueled by employees who own the company."

Before his departure, Georgelakos is actively enhancing KLNB's presence in the Washington Metro region, with plans being carried out to expand volume of brokers and clients in retail, industrial and office spaces across D.C., Northern Virginia and the surrounding areas.

The search for a new managing partner is already underway and is being led by KLNB's succession committee. The search is heavily focused in the D.C./Northern Virginia region, where KLNB is experiencing remarkable growth.

KLNB's executive committee is well poised to confidently and seamlessly lead the firm in the interim.

To read the full press release, visit KLNB's newsroom: http://klnbretail.com/newsroom/.

SOURCE KLNB