Like many in real estate, Ackerberg’s history has ebbed and flowed. In our almost 50 years in operation, we have changed from a business focused mainly on construction, to one focused on residential development, to one focused on general real estate, to who we are today – a small but strong full service real estate firm, known for our innovative and unique approach, focused on urban properties and improving the communities within which we work.
Founded in 1964, the company was originally named Norman Construction Company, and was built by Norman Ackerberg. In 1972, the name was changed to Essex Management Company to more adequately reflect the services the firm offered. In 1989, Stu joined forces with his father, and The Ackerberg Group was born.
By 1991, everything was under the Ackerberg umbrella, and Leasing & Brokerage services were added into the fold. In 1994, Ackerberg purchased Thorpe Bros. Real Estate, doubling their portfolio. At the peak, Ackerberg had over 200 real estate professionals in all areas of real estate; with properties in 10 states, 36 commercial properties and 2,550 multi family units, the company was the 7th largest Manager in the market and the 4th largest Brokerage house.
Stu realized, however, that biggest isn’t always best. Instead of working on the most projects, he wanted to work on the best projects. He began a shift within the organization to quality versus quantity; most 3rd party accounts as well as the brokerage division were sold off to a local competitor, and Ackerberg as it is known today emerged.
The company now focuses mainly on urban communities, with 30+ Office, Industrial & Retail properties under management, totaling over 2 million square feet. 3rd party accounts are focused on key relationships, and meeting the full service and diverse needs of 18 disparate Owners is a top priority.
Community involvement in the areas in which we own or manage properties, as well as cultivated relationships with the elected officials that govern the areas in which we work, are keys to our success.
As an organization, we focus on delivering and managing best-in-class properties that both the tenants that lease from us and the employees that work for us can be proud to be a part of.