DATE: Friday, September 12, 1997            TAG: 9709120619

SECTION: BUSINESS                PAGE: D1   EDITION: FINAL 

SOURCE: BY CHRISTOPHER DINSMORE, STAFF WRITER 

                                            LENGTH:   65 lines

GOODMAN SEGAR EXPANDS WITH ATLANTA MERGER

Extending its reach into Georgia, Goodman Segar Hogan Hoffler is merging with an Atlanta real estate brokerage, Bryant & Associates.

The move takes Norfolk-based Goodman Segar another step down the road to becoming a regional real estate services firm throughout the rapidly developing Southeast.

Bryant & Associates is the fifth firm to merge with Goodman Segar in the past three years. Other brokerages it merged with were in Richmond, Raleigh/-Durham and Washington.

``From the standpoint of doing business in the Southeast, Atlanta is an important market to be located in,'' said Jerry L. Moore, Goodman Segar's chief executive. ``There are many corporate headquarters and regional offices of large companies there.''

By expanding its market coverage, Goodman Segar expects to be able to better serve clients, especially multi-location and Fortune 500 firms, Moore said.

Terms of the deal were not disclosed.

Specializing in office and industrial brokerage, tenant representation and financial services, Bryant & Associates brings a 40-person staff that did $166 million in transactions in 1996 to Goodman Segar. It is one of Atlanta's top 10 real estate firms, Moore said.

The combined companies employ 320 people, lease and manage 25 million square feet of real estate and did $800 million in transactions last year.

Since 1993, Goodman Segar's growth has doubled revenues, tripled the amount of leased office, industrial and retail space and increased annual transaction volume by 920 percent. The Bryant & Associates merger should boost annual revenues to $40 million, Moore said.

``This marriage is very beneficial for Bryant, because of the added capabilities Goodman Segar brings to our operation,'' said T. Richard Bryant, founder, president and chief executive of Bryant & Associates.

``Our business to date has been primarily focused on brokerage,'' Bryant said in a statement. ``Goodman Segar's experience in property management and construction will broaden the services we offer clients.''

Bryant will serve as Goodman Segar's president in Atlanta and join the firm's board of directors.

Moore expects the addition of services to Bryant & Associates' repertoire should bring rapid growth in the Atlanta office.

Goodman Segar is owned by Dominion Capital Inc., the financial and real estate unit of Dominion Resources Inc., Virginia Power's parent; the Chesapeake-based construction firm Armada/Hoffler; and 29 partners active in the firm.

Goodman Segar already has a small satellite office in Atlanta managing a large commercial property, but wanted to enter the market in a larger way with an acquisition.

``We have been aggressively pursuing these firms in strategic markets,'' Moore said.

Goodman Segar is targeting markets from Washington to Atlanta and potentially into Florida, Moore said.

Goodman Segar and Bryant & Associates are members of GVA Worldwide, a global real estate service alliance with 50 members in 20 countries in Europe, Asia and Australia.

The GVA affiliation helps members provide services to clients in markets where they don't otherwise have a presence, Moore said. ILLUSTRATION: Jerry L. Moore, left, CEO of Goodman Segar Hogan

Hoffler, says the merger with Bryant & Associates, led by T. Richard

Bryant, will broaden client services.

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