KLNB Managing Partner Andy Georgelakos To Retire
After 31 years at KLNB and 17 spent as managing partner, Andy Georgelakos is retiring.
Georgelakos will leave his position at KLNB on June 30, but he said he plans to remain involved in commercial real estate as an investor.
In the early 2000s, Georgelakos had a significant impact on development around Dulles Airport. Seeing the development potential this area had, he convinced St. John Properties and Merritt Properties to come down from the Baltimore region and invest in the growing submarket. One of Georgelakos' biggest deals came in 2003, when he represented WorldCom in the sale of two Arlington office buildings totaling 541K SF.
KLNB has begun searching for a new managing partner to replace Georgelakos, who said he is proud of how KLNB has remained an employee-owned company.
“Young people who are willing to work really hard and embrace their entrepreneurial spirit have the very special opportunity to earn a share of the business," Georgelakos said in a release. "We end each year debt-free, with the ability to reward those shareholders with the profit. The success of our company is fueled by employees who own the company.”