The union of real estate veteran Richard Ridgway and property manager David Lane, Sr. has produced Ridgway Lane & Associates, LLC. But don`t call it a merger. Ridgway Realty has been divested, and The Lane Company is idle, Lane said.
“We thought it would be good for both of us,” said Lane. “Richard`s extremely strong in real estate brokerage, sales and development, but one of his strong points was not management. My company was very strong in management, but not as strong in commercial brokerage. So we put them together and hopefully can be strong in all areas.”
The Lane Company was started in 1992 after Lane completed stints as president of H.C. Bailey Management Company and director of real estate services for Unifirst. The Lane Company managed 800 apartment units in Jackson and on the Gulf Coast. Ridgway is represents a third generation in the real estate industry. Ridgway Lane & Associates was established May 1.
“Our future plans are to expand our portfolio,” Lane said.
The portfolio of the combined companies also includes shopping centers, such as County Line Plaza in Jackson, and more than a million square feet of total commercial space in Mississippi, including East River Place, an office development which the company acquired since its inception. The company also manages about 20 homeowner`s associations, Lane said.
“Our primary focus is going to be third party management and commercial brokerage,” Lane said. “Our combined companies intend on managing, selling, leasing and developing real estate.”
The combined staff consists of four property managers, five brokers, and about 15 support staff. The on-site staff boosts the total to about 50 employees, Lane said.
“Everybody from both companies came together and mixed to make one,” Lane said. “No one was let go in the merger. In fact, we`re adding people.”