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 broker.
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 Southeast Missouri. 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.