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October 23, 2015

Seattle commercial real estate firm taking over Voit's local office

Sacramento Business Journal

Ben van der Meer

Seattle-based commercial real estate firm Kidder Mathews will take over the local office of Voit Real Estate Services on Nov. 1.

According to representatives of the two firms, the move adds new lines of service for the local offices and establishes a new beachhead for Kidder Mathews.

Seattle-based commercial real estate firm Kidder Mathews will take over the local office of Voit Real Estate Services on Nov. 1.

"As we were looking for a fit, this platform just worked for us," said Kevin Sheehan of Voit, who will be managing partner for the Kidder Mathews Roseville office.

Kidder Mathews is hiring 10 brokers and managers from Voit, and more will follow. Sheehan said details are still being worked out for other employees in Voit's office, but a majority of Voit's existing employees will move over. Company officials offered no financial details about the deal.

Kidder Mathews, with more than 500 employees and 12 offices on the West Coast, had looked for ways into the Sacramento market for several years, said firm chairman and CEO Jeff Lyon.

"With all the consolidation in the industry, this has just been a great opportunity for us," he said. "It's all about timing, and it's all about the right team."

Voit offered services in office, retail and industrial sectors. By joining Kidder Mathews, the local office will add evaluations and appraisals, property management and debt sources, Sheehan said.

Lyon said it also benefits his company because of both the access to a new market and the ability to increase commercial real estate ties between this region and the Bay Area, where Kidder Mathews has three established offices. A fourth, in the east Bay Area, is in the works.

In several sectors, brokers have said Bay Area investors increasingly shop for relative property bargains in the Sacramento region recently.

Under the deal, Kidder Mathews has assumed responsibility for the lease Voit had at 2237 Douglas Boulevard, and the local office will remain there.

For the full story, go to Sacramento Business Journal.

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