Seattle-based Kidder Mathews has recruited more than 20 brokers from Voit Real Estate Services in Sacramento and Phoenix, just weeks after Irvine, CA-based Voit announced a transition from the leadership of founder Bob Voit to a broker-led management structure headed by Eric Hinkleman as CEO.
Kidder Mathews announced this week it hired 10 brokers and marketing support staff, taking over Voit's former office in Roseville, CA, to enter the Sacramento market and open its 12th West Coast office.
Those new hires came a week after 11 brokers and marketing and support staff at Voit's location in Phoenix made the move to Kidder Mathews.
"We have been discussing and seeking opportunities to have a presence in the greater Sacramento market for some time, to add to our three existing Bay Area offices in San Francisco, Redwood City, and San Jose," Jeff Lyon, Kidder Mathews chairman and CEO said in a release.
The new hires in Sacramento include office specialists Kevin Sheehan, managing partner; Tom Bacci, senior vice president, Tyler Boyd, associate vice president. Lillian Westley, Industrial specialists Sean Gallinger, associate vice president, Bob Keady, vice president, and Mark Levin, vice president, and Kevin Sheehan; investment brokers Bob Pechal, vice president, Stephen Tyrrell, senior vice president, Jon Walker, senior vice president, Lillian Westley, industrial specialist
"Although we evaluated many options, Kidder was an easy choice for our team because of their focus on supporting brokers with the highest level of marketing support and resources as compared to other firms," said former Voit broker Sheehan, managing partner of the new office. "That really matters when we are out recruiting to grow our office, because it gives us a legitimate competitive edge."
From its Seattle base, Kidder Mathews has expanded to more than 500 brokers and staff in 12 offices in Washington, Oregon, California, and Arizona. The firm manages 31 million square feet of space and conducts 1,300 appraisals annually.
Meanwhile, Voit said it is winding down its property management operations in Southern California. The company this week announced an agreement with RiverRock Real Estate Group under which RiverRock will serve as Voit's preferred provider of property management services in Southern California, with Voit serving as preferred provider of brokerage services to RiverRock. This news follows Voit's recent restructuring as a broker-led firm focusing brokerage operations.
Voit did not respond to requests for comment about the personnel moves involving Kidder Mathews.
The national trend of consolidation in the commercial real estate industry, with large publicly held firms gobbling up smaller and mid-market competitors, has created a market opening for privately held Kidder Mathews, which touts its flat management and a commission structure that it claims is favorable compared with market rivals.
Karen Benoit, senior vice president of market for Kidder Mathews, said the brokerage is actively planning to expand in the East Bay market of the San Francisco Bay Area and in Orange County.
The firm opened an office in San Diego in January, hiring three senior brokers and a managing partner at an office in the Del Mar Heights area.