Business Briefs

Raleigh, Fayetteville real estate brokerages merge

Posted December 11, 2008 5:15 p.m. EST

— The Coldwell Banker real estate brokerages in Fayetteville and Raleigh on Thursday announced their merger, saying the combined firm would be better able to serve military families moving to the region.

Coldwell Banker Huff & Pennick, which has served Fayetteville since 1970, merged with Coldwell Banker Advantage, which has operated in the Triangle for 17 years, to form Coldwell Banker Huff & Pennick Advantage. The combined firm will have 10 offices, more than 275 brokers and about $750 million in annual home sales, making it one of the largest Coldwell Banker franchises nationwide, officials said.

"Every week, we encounter buyers and sellers that want exposure to both the Raleigh and Fayetteville markets," co-owner Ralph Huff said in a statement. "This merger allows us to better serve our clients and best positions us to serve the entire region in the growth years ahead."

Thousands of military families are expected to move to the region in the next few years as Fort Bragg expands under the federal Base Realignment and Closure system.