A fast-growing, Seattle-based brokerage company is moving into the Sacramento market, taking over the local operations of Voit Real Estate Services.
Officials with Kidder Mathews said Friday they will start running Voit's Roseville office, at 2237 Douglas Blvd., effective Oct. 30.
"This is a great opportunity for us," said Jeff Lyon, Kidder Mathews' CEO. He said the company had planned to expand into Sacramento in coming years but accelerated its timetable when Voit started consolidating some operations, and staffers at the local office began looking around for a new affiliation.
"It's all about timing and finding the right people," Lyon said.
Kevin Sheehan, Voit's Roseville managing director, will run the Kidder Mathews operation and said Friday the two companies are a good fit. "We have similar cultures; we're both very entrepreneurial," he said.
Sheehan and nine other Voit brokers and managers will be moving to Kidder Mathews. Notably absent from the list is the team headed by Jason Gallelli, one of the region's top retail brokers.
Gallelli said he plans to merge his retail team with an investment company run by his brother and a family-owned property management company to form a full-service brokerage business called Gallelli Real Estate.
"We're also talking with some office and industrial guys" about joining the new business, he said.
Sheehan said his plan is to quickly hire an additional six to eight brokers for the new Kidder Mathews office and "at some point" start looking to open an additional office in downtown Sacramento.
By joining with Kidder Mathews, the local office will be able to offer various new services, including property management, real estate appraising and financing assistance, Sheehan said. The new alliance also provides the office a tie to the Bay Area, where Kidder Mathews has several offices.
"Everybody knows how much business is done between Sacramento and the Bay Area," Sheehan said. "We didn't have an office there. Now we have three."
This will be the third new office opening this year for Kidder Mathews, which has about 500 brokers in 12 offices in Washington, Oregon, California and Arizona.
It expanded into San Diego in January and opened an office in Phoenix earlier this month.