Medford-based Wolfson Cutler has spun off its rental services business into a new company, Doubleclick Rental Properties. The new firm has opened locations in Boston, Medford and Chelsea.

Wolfson Cutler itself was acquired last year by Industrial Concepts Brokerage (ICB). Owner Fred Massa said the spinoff was driven by a booming rental market.

"The rental market is just expanding, both the breadth and the number of people looking for apartment and the number of developments taking place," Massa told Banker and Tradesman.

"We’ve actually managed to get exclusive listings on two developments, one in Somerville and one in Malden," Massa added, saying he felt it was time to spin off the rental division to more effectively concentrate on that growing that sector.

"We wanted to [dedicate] one or two agents to working with the big property managers in downtown Boston, and what we found is a barrier to entry was not having a Boston office. They just couldn’t grapple with the idea of renting in Boston without having a Boston office. So we rectified that, and opened one right in the heart of Downtown Crossing," he explained.  

Doubleclick Rental Properties will be led by Massa’s son and colleague, David Massa, as well as Alex May, who began as a rental manager at Wolfson Cutler. In addition to its location at 366 Salem St., Medford, Doubleclick has opened offices at 50 Franklin St., Boston and at 75 Williams St., Chelsea.

The rental group has seen growth in each of the past three months, and now retains eight agents.  "If we can’t make it this season we can’t make it any time," Massa chuckled.