COLE'S ACQUIRE LORIMONT REAL
276 S. Mt. Auburn, Cape Girardeau, Missouri
Lorimont Place Ltd., a commercial and
industrial real-estate brokerage firm, will be acquired by Chris
Cole and Bill Cole of Realty Executives of Cape County,
according to a recent announcement. The two firms will remain
separate brands, Chris Cole wrote in an email Monday — there
will be no merger between Lorimont Place and Realty Executives.
The Lorimont Place realty company will
remain in the Lorimont Place building at 276 S. Mount Auburn
Road in Cape Girardeau, Chris Cole added.
Real-estate broker Tom Kelsey will remain
with the firm, the release stated, and will continue to serve
his clients in the same capacity he has for 25 years.
Chris Cole will be the firm’s managing
The collaboration will bring together
experienced real-estate entities that will benefit each other,
Chris Cole wrote in the email.
"We are very honored and excited to assume
ownership of Lorimont,” Chris Cole said in the release. “Tom
Kelsey is a highly respected commercial real estate
professional, and we look forward to working side-by-side with
him for years to come. Tom and I have enjoyed working on
opposite sides of a number (of) past transactions, and we have
already found in the early stages of this venture that our
respective backgrounds and skill sets complement one another.
What Tom has built is very impressive, and we have no doubt that
Lorimont will continue to be a strong commercial real estate
brand for decades to come.”
Lorimont Place Ltd. was founded in 1993 by
Earl Norman, Tim Goodman and Kelsey. Lorimont has been the
region’s top commercial real estate brokerage firm since its
founding, according to the release.
As the firm’s sole broker, Kelsey began in
commercial real estate in a leasing and property management role
for the Lorimont Place office and retail development on Mount
Auburn Road. Over the next few years, Kelsey would grow the
company into a brokerage responsible for many of the region’s
high-profile commercial real estate transactions.
Kelsey’s work has played a role in the
progression of commercial development and economic growth in
Some of his recent sale and lease
transactions include the Zaxby’s site purchases in Cape
Girardeau and Sikeston, Missouri; Ultimate Air Trampoline Park
in Cape Girardeau; Chin Restaurant in Perryville, Missouri;
Golden Corral in Cape Girardeau; and Walmart Neighborhood
Market, Harbor Freight and Athletico in Cape Girardeau’s Town
Plaza area, among others.
Bill Cole is an accountant and former CPA,
according to the release, who founded Realty Executives of Cape
County with his wife, Susan, in 2003. Susan has been a licensed
real estate saleswoman and broker since 1981.
Realty Executives of Cape County has two
offices in Cape Girardeau and one in Jackson. The firm expanded
into Perryville in 2017 with the launch of its first branch
office outside Cape Girardeau County, Realty Executives Edge.
Together, the four Realty Executives offices have handled more
than $200 million in real estate transaction volume annually for
the past several years. Realty Executives has also brokered
nearly $30 million in commercial sales and leasing volume in the
past two years, according to the release.