Baltimore, MD — KLNB announced that Andrew Georgelakos, principal and managing partner will retire June 30, 2017. Georgelakos will leave KLNB after leading the firm to its two most successful years, with nearly $1.5 billion in annual transaction volume for both 2015 and 2016.
Among his many achievements, one of the most notable was Georgelakos’ foresight in the early 2000s about the potential for expansion around the Washington Dulles International Airport. With his encouragement, St. John Properties and Merritt Properties expanded from the Baltimore region into the burgeoning Northern Virginia market, and the sales that resulted led to expansive growth in revenue, company size and geographic reach for KLNB.
Looking back at his 31 years at KLNB, Georgelakos says what he is most proud of is the firm’s status as an employee-owned company. “Young people who are willing to work really hard and embrace their entrepreneurial spirit have the very special opportunity to earn a share of the business. We end each year debt-free, with the ability to reward those shareholders with the profit,” he said. “The success of our company is fueled by employees who own the company.”