Ripco Buys Miami’s Acre Retail Brokerage
By Julia Echikson May 1, 2024 11:37 am
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Commercial real estate company Ripco has acquired Acre, a Miami-based retail brokerage, for an undisclosed amount.
Acre, led by Marty Arrivo and Aracibo Quintana, has represented big-name brands such as Nike, Lucid Motors, Lululemon and Starbucks, as well as Stephen Ross’s Related Companies at its The Square mixed-use development in Downtown West Palm Beach.
“Joining Ripco allows us to leverage their extensive back-end services and robust client base to elevate the retail environments we are passionate about creating,” Arrivo said in a statement.
The acquisition ups Ripco’s Miami headcount by four, bringing the total to 30 employees, starting Wednesday. Arrivo and Quintana will serve as executive vice presidents.
The Acre team’s “expertise and market credibility are unsurpassed. This acquisition marks a significant milestone in our strategy to compete for and secure the most prestigious leasing assignments in the market,” Ripco President Mark Kaplan said in a statement.
New York-based Ripco, whose clients have included Shake Shack, Chipotle, Aldi and Target, launched in Florida three years ago, opening offices in Miami and Tampa.
The deal also marks Ripco’s latest acquisition since 2022, when it purchased restaurant brokerage Branded Concept Development, again for an undisclosed amount.
Correction: The story was amended to reflect the correct timeline of Ripco’s Branded Concept Development acquisition and Acre’s correct client.
Julia Echikson can be reached at jechikson@commercialobserver.com.
