The Weichert Family of Cos., based in Morris Plains, has created the Weichert Development Co. to focus on development, as well as commercial and residential real estate investment, it announced Tuesday.
Weichert Family of Cos. Chairman, CEO and President Jim Weichert said the new, privately-held company will be based out of Weichert’s corporate headquarters.
“We believe that Weichert Development Co. will quickly achieve the same level of success as the other national and global real estate companies affiliated with Weichert,” he said.
The development company will be led by John Udell, 15-year president of Weichert Commercial Brokerage Inc.
It will focus on urban development, adaptive reuse, redevelopment and asset repurposing.
The Weichert Family of Cos. primarily focuses on residential real estate.