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Four and a half months after launching a franchise brand, Chicago’s @properties today announced that Detroit-based Alexander Real Estate will become its first franchise company.
As a franchise, Alexander Real Estate will rebrand itself to operate under the @properties banner. It also aims to “quickly grow from $120 million to $500 million in annual sales by gaining market share in the areas it currently serves and expanding throughout the Detroit metro area,” according to a company statement.
Eric Walstrom and Alex Irrer founded Alexander Real Estate in 2016. Since then, the company has grown quickly and is now the top broker in downtown Detroit, among other things, the statement notes.