RIVERWOODS, IL—Locally based Podolsky Northstar CORFAC International and Chicago-based Circle Realty Advisors have merged to form a new firm, Podolsky-Circle CORFAC.

The new full-service commercial real estate firm will be based in Riverwoods, Ill., with a branch office in Chicago. Randy Podolsky will remain managing principal of the firm. Alissa Adler, president and founder of Circle, is now a principal of the new firm.

Podolsky said in the statement that the merger helps break his firm out of the industrial-focused business model they started with decades ago, though the company will still operate mainly in the Midwest, with some asset management and tenant representation in other states. “Combining Alissa’s strengths and relationships with our depth of service makes us the premier real estate firm with over four decades in the forefront of real estate trends,” Podolsky said.