H&R Retail, a Washington/Baltimore-based retail real estate services company, announced the recent formation of a Retail Investment Sales group to be headed by Michael Gorsage, a 25-year veteran of the retail and commercial real estate industry.

“We are very pleased to have a professional with Mike’s experience onboard,” said David Ward, H&R Retail president. “His joining H&R Retail is the perfect marriage of his retail investment sales experience and the firm’s vast retail market knowledge. I am quite sure his services will greatly maximize the value we provide to our clients.”

Mr. Gorsage will serve as a principal of H&R Retail. He is joined by Kate Howarth, who will serve as managing director of investment properties with the new division.

“By adding a retail investment sales component, H&R Retail is now able to provide investors with the same valuable market knowledge the firm has utilized on behalf of retail tenants,” said Mr. Gorsage. “Ultimately, investors in retail properties and tenants’ interests are aligned in that they are looking for the same thing: excellent sales potential.”

Mr. Gorsage’s commercial real estate experience includes investment sales, retail project leasing, tenant representation, development, acquisition, disposition, and the structuring of joint venture partnerships. He had been with CB Richard Ellis since 1995, where he closed transactions with total consideration in excess of $1 billion. Prior to that, Mr. Gorsage served as president of a D.C. area development company and was responsible for the development of Chevy Chase Pavilion, a 750,000 square foot urban mixed- use project, and Idylwood Plaza, a 75,000 square foot neighborhood center anchored by Whole Foods.

Kate Howarth joined H&R Retail in December 2003 as Managing Director of Investment Properties. In this capacity, Ms. Howarth is responsible for the operations and the marketing of the group including client relations, underwriting, market research, and technical applications. Prior to joining H&R, Ms. Howarth worked at CB Richard Ellis specializing in the sale of retail investment properties and before that oversaw the underwriting and marketing efforts for the Mid Atlantic Investment Sales Group of Trammell Crow Company which sold almost $1 billion worth of office, retail and industrial properties during her three year tenure.

About H&R Retail
H&R Retail, with offices in Timonium and Chevy Chase, Maryland, is the largest retail-only brokerage firm in the Washington, D.C./Baltimore metropolitan area. The firm exclusively represents over 65 properties and over 65 retailers and restaurants. In addition, a variety of national big box and chain retailers exclusively utilize H&R’s services to assist with expansion plans throughout the region.