N.J. Firm Buys LMS Commercial Real Estate

Paramount Realty Services, a New Jersey commercial real estate firm, is the new owner of LMS Commercial Real Estate's properties and will now manage the real estate firm, which has offices in Lancaster and York, Pa.

Paramount Realty Services bought the real estate assets of LMS, encompassing 30 properties and 2 million square feet of space, LMS said in a press release.

Terms of the sales were not disclosed, and company representatives were not available to discuss specifics, including which properties were sold.

A spokeswoman said the assets that were sold will continue to be managed by LMS.

Paramount Realty Services is a 25-employee firm that operates in Connecticut, Maryland, Massachusetts, New Jersey and Pennsylvania.

The transaction gives Paramount Realty Service assets in excess of $1 billion, with ownership of some 7.5 million square feet of space and leasing assignments for more than 13 million square feet of space.

©2015 LNP (Lancaster, Pa.). Distributed by Tribune Content Agency

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