Merging Strengths: What the Lee & Associates and Lundy Merger Means for AB&B Tenants
June 16, 2025
In Q1 of 2025, two Triangle-based commercial property firms, Lee & Associates and Lundy Management Group, announced their official merger, creating one of the region’s most robust full-service real estate management companies. As reported by Triangle Business Journal, Business North Carolina, and North State Journal, this strategic consolidation brings together Lee & Associates’ strength in retail property management and brokerage with Lundy’s deep specialization in medical office management.
At AB&B, this development is more than industry news – it’s a catalyst for improvement. “We’ve worked with both Lee & Associates and Lundy for years,” says Jimmy Ricard, COO at AB&B. “Lee has handled property management for our retail centers, while Lundy has supported our growing medical office and Medtail portfolio. This merger streamlines communication, aligns service standards, and allows us to enhance the tenant experience in a much more unified way.”
One Vision, One Voice
Previously, AB&B navigated separate relationships with two firms, which often created internal inefficiencies and inconsistent tenant experiences. With this merger, those barriers are dissolving. “It allows us to pool our tenant base and create a more cohesive property management ecosystem,” Ricard explains. “As the newly combined firm realigns operations, AB&B intends to be an active voice in shaping that evolution.”
Brett Earp, AB&B’s Asset Manager, agrees: “We’ve always had high expectations for responsiveness, consistency, and proactive support from our property management partners. With these two teams coming together, there’s a real opportunity to build a standard that better serves both retail and medical tenants under a single framework.”
Why This Merger Matters
Lee & Associates has built its reputation managing large-scale retail centers across the Southeast, while Lundy, with decades of experience in medical office real estate, carved a niche in Medtail and healthcare-centric properties.
AB&B, which operates at the intersection of these two sectors, is uniquely positioned to benefit from this union. “We’re in a phase of growth and refinement,” says Ricard. “Bringing our medical and retail portfolios under one high-performing management umbrella means more focused reporting, faster response times, and better support for our tenants’ unique operational needs.”
According to Triangle Business Journal, the merger includes plans to consolidate property management offices and bring the teams together under the Lee & Associates brand. With Jamie Baker of Lundy Management Group stepping into a leadership role and Moss Withers continuing to oversee brokerage operations, the transition is designed to balance continuity and innovation.
AB&B's Role in the Transition
Ricard sees this moment as one of influence. “We know there’s going to be operational recalibration. That’s normal with any merger. Our approach is to stay vocal about what our tenants need and help this new structure form in a way that delivers the high level of experience we aim to provide all of our stakeholders.”
The partnership between AB&B and the new Lee & Associates isn’t just about managing buildings, it’s about aligning around shared goals: stability, service excellence, and tenant satisfaction.
As the merger continues to unfold, AB&B remains focused on ensuring that the transition results in improved service delivery, streamlined communication, and enhanced support across its portfolio. With a unified property management structure now in place, AB&B is poised to build even stronger relationships, setting a new standard for responsiveness, consistency, and long-term value for tenants.
In Q1 of 2025, two Triangle-based commercial property firms, Lee & Associates and Lundy Management Group, announced their official merger, creating one of the region’s most robust full-service real estate management companies. As reported by Triangle Business Journal, Business North Carolina, and North State Journal, this strategic consolidation brings together Lee & Associates’ strength in retail property management and brokerage with Lundy’s deep specialization in medical office management.
At AB&B, this development is more than industry news – it’s a catalyst for improvement. “We’ve worked with both Lee & Associates and Lundy for years,” says Jimmy Ricard, COO at AB&B. “Lee has handled property management for our retail centers, while Lundy has supported our growing medical office and Medtail portfolio. This merger streamlines communication, aligns service standards, and allows us to enhance the tenant experience in a much more unified way.”
One Vision, One Voice
Previously, AB&B navigated separate relationships with two firms, which often created internal inefficiencies and inconsistent tenant experiences. With this merger, those barriers are dissolving. “It allows us to pool our tenant base and create a more cohesive property management ecosystem,” Ricard explains. “As the newly combined firm realigns operations, AB&B intends to be an active voice in shaping that evolution.”
Brett Earp, AB&B’s Asset Manager, agrees: “We’ve always had high expectations for responsiveness, consistency, and proactive support from our property management partners. With these two teams coming together, there’s a real opportunity to build a standard that better serves both retail and medical tenants under a single framework.”
Why This Merger Matters
Lee & Associates has built its reputation managing large-scale retail centers across the Southeast, while Lundy, with decades of experience in medical office real estate, carved a niche in Medtail and healthcare-centric properties.
AB&B, which operates at the intersection of these two sectors, is uniquely positioned to benefit from this union. “We’re in a phase of growth and refinement,” says Ricard. “Bringing our medical and retail portfolios under one high-performing management umbrella means more focused reporting, faster response times, and better support for our tenants’ unique operational needs.”
According to Triangle Business Journal, the merger includes plans to consolidate property management offices and bring the teams together under the Lee & Associates brand. With Jamie Baker of Lundy Management Group stepping into a leadership role and Moss Withers continuing to oversee brokerage operations, the transition is designed to balance continuity and innovation.
AB&B's Role in the Transition
Ricard sees this moment as one of influence. “We know there’s going to be operational recalibration. That’s normal with any merger. Our approach is to stay vocal about what our tenants need and help this new structure form in a way that delivers the high level of experience we aim to provide all of our stakeholders.”
The partnership between AB&B and the new Lee & Associates isn’t just about managing buildings, it’s about aligning around shared goals: stability, service excellence, and tenant satisfaction.
As the merger continues to unfold, AB&B remains focused on ensuring that the transition results in improved service delivery, streamlined communication, and enhanced support across its portfolio. With a unified property management structure now in place, AB&B is poised to build even stronger relationships, setting a new standard for responsiveness, consistency, and long-term value for tenants.
Like what you see? Share with a friend.