The acquisition will allow Corcoran HM Properties to expand into the coastal market of Wilmington. The firm’s combined footprint now spans more than 160 agents across six offices in North and South Carolina.
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Corcoran HM Properties, a Corcoran Group affiliate, has expanded into Wilmington, North Carolina, with the acquisition of The Property Shop International Realty, the brokerage informed Inman.
With the acquisition, the firm’s combined footprint spans more than 160 agents across six offices in North and South Carolina. Corcoran HM Properties brings one office in Charleston and three across the greater Charlotte area and Lake Norman, and The Property Shop International Realty contributes offices in Wilmington and Burgaw.
Valerie Mitchener | Corcoran HM Properties
“By partnering with The Property Shop International Realty in Wilmington, we are taking a significant and strategic step in our growth,” Valerie Mitchener, broker-owner of Corcoran HM Properties, said in a statement. “Through combining Corcoran HM Properties’ innovative resources with The Property Shop International Realty’s local expertise, we are not only expanding our physical presence but also expanding our avenues of continued achievement in driving successful transactions and delivering exceptional service for our valued clients.”
Founded in 2009, The Property Shop International Realty is owned by real estate vet Tony Harrington. Harrington has lived in Wilmington for 30 years and is the 2024 president of NC Realtors, where he focuses on economic development and international awareness of the organization and its members. He also serves on the National Association of Realtors Board of Directors.
Tony Harrington | The Property Shop
“Joining Corcoran HM Properties allows our brokerage to leverage a prestigious brand known for its exceptional service and extensive market reach, enhancing our ability to serve our clients more effectively,” Harrington said in a statement. “Now under the Corcoran banner, we gain access to unparalleled resources, industry expertise, and an international network of top-tier professionals.”
The Property Shop International Realty on its own encompasses 18 agents across two Wilmington-area offices.
The firm’s market specialties include Wrightsville Beach, Bald Head Island, Figure Eight Island, Carolina Beach, Kure Beach, Leland, Hampstead, Oak Island, Southport, Topsail Island and other coastal communities. In 2022, the firm brokered the most expensive transaction in Wilmington, a substantial development area that sold for $15 million.
The strategic acquisition will provide Corcoran HM Properties with access to a market that’s symbiotic with the firm’s primary market of Charlotte. Residents of Charlotte and Raleigh-Durham are drawn to Wilmington as a second-home beach market, with a variety of housing options, including bungalows and condos.
Wilmington is home to both permanent and seasonal residents and is known for its white sand beaches. The city also hosts the University of North Carolina, Wilmington; the Battleship North Carolina Museum; and several quality golf courses.
Corcoran HM Properties launched in 2021 as Corcoran Group began ramping up expansions of its affiliate network. The firm was born out of a brokerage first launched by Val Mitchener in 2006. The Corcoran Affiliate Network launched in February 2020.
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Email Lillian Dickerson