Our History
1968
Bold Beginnings
After more than a decade of real estate development in Durham, Charles Russell Wellons, together with his wife Geneelia, founded Real Estate Associates, Inc. (REA) to expand and formalize their growing portfolio. They began work in Durham with residential subdivisions and commercial ventures, including Wellons Village — a combined residential community and shopping center that became only the second of its kind in the city.
REA’s first office was located on Miami Blvd, not far from Wellons Village, reflecting the company’s deep roots in East Durham. The success of these early developments helped establish the Wellons name as a prominent force in shaping Durham’s suburban growth and laid the groundwork for what would become one of the area’s most enduring real estate firms.
1972
Expanding Horizons
Joe Jernigan joined Real Estate Associates and eventually assumed the role of President in 1979, guiding the company through a period of strategic expansion.
Under his leadership, REA broadened its focus beyond development to include the acquisition of land and investment property, and third-party property management services. The firm soon established a reputation for hands-on expertise and client-first service that continues to define the firm today.
1989
New Home Base
As Real Estate Associates grew, the company relocated its office to 3633 Durham-Chapel Hill Blvd in South Durham, where it purchased and occupied a former bank building. The site featured a drive-thru, which proved especially convenient for residents paying rent in person.
This move reflected the company’s continued expansion and its commitment to providing accessible, community-focused service across a growing portfolio of properties.
1993
Flagship Development
Under the leadership of Joe Jernigan, Real Estate Associates developed Falconbridge Shopping Center in Chapel Hill - a 70,000 square foot retail hub anchored by Mardi Gras Bowling, the town’s only public bowling center. The project quickly became a high-profile success and a flagship property in REA’s portfolio. With its prominent location and community-driven tenant mix, Falconbridge demonstrated the firm’s ability to deliver impactful, destination-oriented developments that served both neighborhood needs and long-term investment goals.
2003
Family Business
Seth Jernigan, son of then-President Joe Jernigan, joined the company in 2003, bringing fresh energy to the commercial brokerage division and business development efforts.
He began his career at Accenture, a global management consulting firm in Charlotte, NC, where he honed a disciplined project management approach to navigating complex business challenges.
Seth’s blend of corporate consulting expertise and local market focus helped drive the firm’s growth and expansion.
2018
A New Era of Leadership
Seth Jernigan assumed the role of President, ushering in a new generation of leadership for the company.
After more than 15 years working alongside his father and gaining experience across all areas of the business, he continues to guide REA with a focus on its core values of integrity, hard work, and above all, attention to client needs, while positioning the company for continued success in a rapidly evolving real estate market.
2009
Positioned for Growth
As the company continued to grow, Real Estate Associates acquired a larger building at 3333 Durham-Chapel Hill Boulevard and relocated its offices once again. The move provided expanded space to support its growing team, including the addition of more commercial brokers. This strategic investment reflected REA’s commitment to long-term growth and its evolving role as a full-service real estate firm.
2022
Global Reach
REA becomes SVN | Real Estate Associates, joining forces with SVN, a globally recognized commercial real estate brand with more than 200 offices worldwide.
This powerful partnership extends SVN | REA's reach far beyond North Carolina while deepening its commitment to delivering local expertise with world‑class resources.
Today
Carrying the Legacy Forward
SVN | Real Estate Associates continues to thrive as a locally rooted, family-founded and operated firm. As President, Seth Jernigan guides the company’s strategic direction while Joe Jernigan serves in a supportive role as Chairman. The family of Charles Russell Wellons also remains actively engaged in the company, helping to carry forward his legacy.
With a continued focus on integrity, service, and local expertise, we proudly serve clients throughout Durham, the Triangle, and beyond.
Our Vision, Mission, & Values
Vision
Improve the lives of clients, tenants and employees by providing high-quality real estate services.
Mission
We are committed to:
Helping our clients achieve their real estate goals.
Providing clients, residents and tenants with the best possible service.
Making REA a great place to work.
Helping people with the greatest needs in our community.
Core Values
Honesty and Integrity
These are the foundation of our company culture and we place these virtues above all else.
Professionalism
Through our actions, words and demeanor, we demonstrate that we are capable, confident, and respectful, always representing REA in a favorable manner.
Results
We understand that we’re hired to deliver results and we strive to exceed client expectations.
News & Updates
Check out the latest market news and updates on our company and stay updated on all things real estate.