Two longtime Pensacola companies are joining forces to offer a new level of service to property owners and to tackle the challenges of a changing property and insurance market. Beck Property Company and McGraw Insurance Services informed their customers recently that the two firms had joined to form Beck Partners, and offer their customers a wide range of commercial real estate and insurance services.
The merger reflects the new dynamic of the market, and a continued willingness to grow and innovate by both firms. Gregg Beck, CEO and chairman, founded Beck Properties in 1981 and now represents owners, sellers, buyer and tenants accounts across North Florida. The firm has offices in Pensacola and Tallahassee and offers property management, brokerage and consulting services.
Reid Rushing and his wife, Kristine, own McGraw Insurance Services which is the other half of the newly formed Beck Partners. The Rushings purchased the McGraw Insurance agency in 2008, after over a decade of experience each with Fisher-Brown. Pensacola residents may recognize the Rushing name since Don Rushing, Reid’s father, has been an agent with Fisher-Brown since 1950 until he fully retired this year.
Gregg Beck noted that the partnership was the result of a new business strategy that the Beck company had been working on for over a year. “One of our priorities over the past few years, was to find ways to really grow the business and compete on a broader level, and it turns out that Reid and Kristine were looking at the same thing,” said Beck. “We have been growing geographically, but being able to offer an entire additional line of service like insurance and risk management, and getting the chance to partner with Reid and Kristine, puts us in a very strong position and differentiates us in the marketplace,” he said.
The partnership didn’t happen overnight, either. Both firms worked together for almost a year to explore the potential partnership, and worked through several important factors including employee and workplace culture, business models, financial forecasting, and market analysis before committing to the joint venture.
“We knew the Becks and their firm from social and professional circles, and we all agreed that for this to work, it would need to be a win-win for both businesses,” said Reid Rushing. “Gregg, Justin and their team worked with our team, and together we all crunched the numbers, looked at the options, and decided this was a great step for our businesses and more importantly, for our customers. Beck Partners is going to be in a position to provide really innovative services to property owners, business owners and investors while continuing to service our existing customers and clients with the same level of attention as we always have,” he said.
Both firms announced the merger to their respective customers in a letter and through email and social media over the past few weeks, and Beck said they intended to launch the new website, collateral, and branding after the first of the year.