The Del Mar Heights office of Kidder Mathews continues to grow with the firm's acquisition of StepStone Real Estate Services, a San Diego asset and property management firm. The terms of the transaction were not disclosed.
StepStone, has a portfolio of 600,000 square feet of retail, office and mixed-use properties, and has been providing asset, advisory and property management services in the San Diego market for 20 years.
Kidder Mathews was managing 800,000 square feet of biotech space in La Jolla when it opened its first San Diego area office in January. It hired eight veteran brokers and put long-time CBRE and Voit Commercial Real Estate Services executive Mark Read at the helm of the Del Mar Heights office.
The StepStone group joining Kidder Mathews consists of founder and well-known San Diego commercial real estate professional Jack Naliboff, along with Kathy Giraldo Carlson, Mark Vallecorsa, and four additional StepStone employees.
"The group's expertise will be helpful as we expand further into Orange County and Los Angeles," Read said.
Naliboff, who will be a Kidder partner, is an industry veteran with more than 30 years experience in commercial real estate. Prior to founding StepStone, Naliboff was a senior vice president with John Burnham & Co. where he managed a portfolio of more than 3.5 million square feet.
Carlson has been named vice president at Kidder Mathews. She has more than 20 years of property and operations management expertise. Prior to her tenure at StepStone, she was with Lincoln Property Co.
Vallecorsa will be a senior property manager and financial analyst for the firm. Along with his strong accounting background, he is a licensed California real estate broker.
Two of the key projects included in StepStone's portfolio are The Shops at La Jolla Village, a 165,000-square-foot mixed-use project, and Coronado Plaza, a 50,000-square-foot mixed-use property.