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A longtime D.C. tenant representation firm is shutting down.
The Ezra Co., founded by Fred Ezra, will soon cease operations after 39 years, the Washington Business Journal reports. Ezra confirmed the decision after previous discussions to either sell the firm or restructure under new management didn't pan out.
The firm had 50 employees as of three months ago, and wound down slowly enough to allow those workers to find their next landing spot — a nine-person team including Glenn Meltzer and Bobby Katz wound up at Avison Young. Ezra founded the firm in 1980 and continued to rake in millions in revenue as the broader brokerage industry consolidated around him.
D.C. hasn't experienced the same upheaval of midsized firms as New York, where Eastern Consolidated abruptly shut down last year and some question the viability of independently owned firms in an age where global companies like CBRE, JLL, Cushman & Wakefield and Colliers International increasingly gobble up market share.
The Ezra Co. had closed some major leasing deals in the last few years, including The Aspen Institute's 91K SF lease at 2300 N St. NW and the American Fuel & Petrochemical Manufacturers' lease at 1800 M St. NW.
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