Marx Okubo’s Atlanta office, a project completed in 2020. Vickers Design Group (archive photo; crop).
Terracon said Monday, November 2, that it has acquired Marx Okubo Associates, adding 200 employees and a national real estate consulting business focused on property due diligence, building assessments and owner’s representation. The acquisition price was not disclosed.
The company announcement says the acquired firm will operate as Marx Okubo, A Terracon Company, with its employees immediately becoming part of Terracon. Both businesses were employee-owned before the transaction.
Marx Okubo advises real estate owners, investors and lenders on building conditions and other technical issues throughout a property’s life. Founded in 1982, it brings architecture, engineering and construction consulting services to Terracon’s Facilities practice.
The companies said their combined capabilities cover office buildings, multifamily housing, retail, hospitality, education, healthcare, data centers, warehouses and industrial facilities, as well as cultural, entertainment, parking and mixed-use properties.
Terracon said nearby offices will support Marx Okubo locations in markets including Denver, the San Francisco Bay Area, Seattle, Los Angeles, Dallas, Atlanta and New York. The announcement says existing client relationships and service teams will continue while gaining access to the larger company’s resources.
“Marx Okubo is known for working with clients at every point in the project lifecycle to help them make the most informed decisions,” Terracon Chair, President and Chief Executive Gayle Packer said in the release.
Parrish S. Boren, Marx Okubo’s board chair, president and chief executive, said joining Terracon creates opportunities to expand services, enter new markets and invest in technology. Those are the companies’ stated plans, not financial results from the acquisition.
Terracon describes itself as an employee-owned engineering and technical consultancy with more than 8,000 employees and more than 200 locations nationwide. Monday’s announcement did not provide a purchase multiple, revenue contribution or earnings forecast for Marx Okubo.
JBizNews Desk | New York
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