Dallas-based commercial property consultant Masterplan has merged with a New York firm to expand its technology and capital ventures.
That firm is Milrose Consultants, which provides commercial property consulting services in multiple U.S. markets with more than 20 offices nationwide, according to the Dallas Morning News.
Masterplan CEO Dallas Cothrum said that the strategic merger will serve as a stepping stone to help grow his business, which already has operations in Dallas, Fort Worth, Frisco, Houston and Austin.
“These guys have bought up other people like us very strategically,” he told the publication. “As we have grown and this business has gotten more complicated, we have had a steady stream of offers over the last five years.”
Masterplan provides the North Texas area with zoning, permitting and land use services. It was founded in 1981 by Cothrum’s father, former Dallas city councilman William Cothrum.
It has since worked on some of the D-FW’s largest developments, such as The Union north of downtown Dallas, Rosewood Court in Uptown and more than 100 Dallas ISD campuses.
Masterplan is not the first strategic merger in the Dallas area this year.
Dallas’ United Real Estate Group announced its merger with Kansas-based Platinum Realty back in April as part of its growth plan of “attracting regionally dominant, independent brokerages in key markets.”
United has more than 16,000 agents across the country and 110 U.S. offices in 30 states. It ranks seventh in RISMedia’s 2022 Power Brokers list by transaction sides and 13th in sales volume.
Masterplan has more than 40 employees, all of whom will stay on with the firm, Cothrum said.
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