Merrill P. Thomas Co., Inc. (MPT CO) has been named a finalist for the Mobile Chamber Small Business of the Year award, recognizing their remarkable journey and outstanding contributions to the commercial real estate industry.

A Legacy of Excellence
Founded in 1992 by Merrill P. Thomas, MPT CO is a second-generation, family-run business specializing in commercial and industrial real estate development, brokerage and property management services. Merrill, who began his career at Folmar and Associates, launched MPT CO after successfully managing several Super Kmart projects. He started the company in Pensacola with a vision to secure a sustainable livelihood for his family.

Navigating Early Challenges
Merrill’s initial venture involved leasing a space to Kmart in Pensacola. However, just days before finalizing the lease, Kmart imposed a moratorium on new stores. Undeterred, Merrill pivoted to marketing closed Kmart stores in Alabama. This strategic move led to a partnership with Advance Auto Parts, resulting in the development of 35 stores and laying a solid foundation for MPT CO’s future success.

Growth and Diversification
Over the years, MPT CO has grown and adapted to industry changes, shifting from single-tenant stores to managing unanchored neighborhood shopping centers and warehouse properties. Pratt Thomas joined the company in 2008, bringing his expertise from a successful career at Regions Bank. Under his leadership, MPT CO’s brokerage revenue soared from just over $100,000 in 2008 to exceeding $1M in 2023, marking a remarkable 900% increase. The property management division also experienced substantial growth, with revenue increasing from $35,000 in 2007 to an expected $150,000 in 2023, a 328% increase.

Innovative Investments
MPT CO has strategically diversified its investments, expanding into medical office buildings, professional office buildings, industrial properties, retail properties and climate-controlled self-storage facilities. This diversification has solidified their position in the commercial real estate market, showcasing their adaptability and forward-thinking approach.

Commitment to Community and Excellence
MPT CO’s success is rooted in its commitment to excellence and its unwavering work ethic. They have consistently navigated the dynamic commercial real estate industry, overcoming challenges such as evolving tax laws, financing practices and changing tenant needs. Their ability to anticipate and adapt to these changes has allowed them to deliver exceptional value to their clients.

MPTCO is actively engaged in the community and the Chamber through various initiatives and recognitions. They develop residential homes for low-income households as part of the City of Mobile Community City and Housing Development Program. The company has won the “Lagniappe Readers’ Choice Award” for “The Best Commercial Real Estate Company” in Mobile and Baldwin County for three consecutive years (2022, 2023, 2024). Key team members include Merrill, a board member of Community Bank and Holding Company since 2008, and Pratt Thomas, who has received several recognitions and holds multiple leadership positions, including with Mobile United’ Leadership Mobile Class of 2023, Build the Bridge Coalition, and the Board of Realtors Governmental Affairs Committee. They also sponsor the Mobile Law Enforcement Foundation Annual Luncheon and attend the CCIM Gulf Coast District Meeting. The MPTCO team participates in various community and Chamber events, including the Mobile Chamber Golf Tournament, State of the City & County forum, the Business Expo and regularly collaborates with Mobile Chamber team members. 

Being named a finalist for the Mobile Chamber Small Business of the Year award is a testament to MPT CO’s dedication, resilience and continued contribution to the commercial real estate field. Their story is one of hard work, strategic thinking and a relentless pursuit of excellence, making them a deserving candidate for this recognition.