Hoping to mutually expand their territories and services, a pair of well-known commercial real estate firms are joining forces. The Stevens Group of Lexington will merge with Boston-based GVA Thompson Doyle Hennessey & Everest, officials at both companies acknowledged last week.
“It’s done,” said principal John Hennessey, adding that “this makes us a much larger player than we have been.” The union will provide Thompson Doyle with a strong presence in the suburbs, he said, a market the company has been pursuing increasingly in recent years. Founded in 1980, the Stevens Group is a suburban specialist, with knowledge in such areas as office, industrial and R&D properties.
“This clearly bolsters our suburban capabilities,” Hennessey said. “It gives us a much broader platform to work from, and that will help us in serving our clients.”
Likewise, principal Mark Stevens said his company has been looking for a way to help clients who may need real estate expertise in Boston and Cambridge as well as the suburbs. Especially in the high-tech arena, Stevens said, many firms are requiring real estate services in both the downtown and suburban markets today.
“I think it will be a real good fit,” he said. His company and Thompson Doyle have previously collaborated on an informal basis, Stevens explained, and when it became apparent that both firms were looking for a long-term approach to full service offering, the notion of a merger began to take shape.
“We felt there was some good synergy, and wanted to see if we could do something in a more formal way,” he said. “We’re very excited about it.”
Stevens said he and his wife and business partner, Debra Lee Stevens, also see the affiliation with GVA Worldwide as another plus. The national network of real estate companies will help in serving the Stevens Group’s client base, some of whom they have been unable to assist when those firms needed real estate services in other cities. Once affiliated with Whittier Partners, GVA Worldwide lost its Boston presence when Whittier merged with CB Commercial. The recent affiliation with Thompson Doyle means that business should flow in both directions, said Stevens.
Culturally speaking, Hennessey said he believes the two shops will also mesh well, especially since they share a hands-on philosophy that calls for a principal to be involved in every deal. The firm will be called GVA Thompson Doyle Hennessey & Everest.
Certainly the leaders of the two companies have established themselves as significant players in the local commercial real estate market. Now celebrating 25 years in the business, Mark Stevens is a member of the Society of Industrial and Office Realtors and is regarded among the suburbs’ most well-regarded commercial brokers. Debra Lee Stevens, meanwhile, has an expertise in office properties and next year will serve as president of the New England chapter of CCIM, the group which offers the prestigious Certified Commercial Investment Member designation.
Founded in 1990 by Catherine H. Thompson and Kathleen C. Doyle, GVA Thompson Doyle has grown steadily in recent years, winning a variety of top assignments, including leasing duties for the $350 million BioSquare medical research complex in Boston. Hennessey and partner Christopher Everest were later added as partners.
