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January 21, 2016

Kidder Mathews Expands Into Reno

ALM Globe St

Natalie Dolce

RENO, NV - Commercial real estate firm, Kidder Mathews, has opened an office in Reno and has recruited four of the region's top industrial brokers. The new office is located at 50 West Liberty St, 4th Floor West Tower, in Reno, NV.

Kidder Mathews current has more than 500 real estate professionals and staff in 13 offices in Washington, Oregon, California, Arizona, and Nevada. As part of the firm's strategic growth plan, in the last year, it has opened offices in San Diego, Phoenix, Sacramento, and Reno.

The firm says that "the Reno market is the second largest metro area in Nevada and one of the hottest industrial regions in the Western US for various reasons, including ample availability of land and 80 million square feet of industrial space and it is the site of the new Tesla $5 billion Gigafactory. Nevada has a positive business climate (no taxes), and due to its proximity to California, it is an attractive alternative for companies who need more cost effective manufacturing and distribution solutions. Reno has excellent access to major highways/freeways (Hwy 80, 395 and I-5)."

Jeff Lyon, chairman and CEO says that the firm sees "a tremendous opportunity to expand our services in Reno. It is a logical next step for us due to the business flow out of the greater Bay Area and Sacramento markets, where we have four offices. We are very pleased with this dominant team of four veteran professionals as a solid foundation to grow our office from."

The new hires include:

J. Michael Hoeck, SIOR, Senior Vice President, Managing Partner, Industrial Specialist

Michael Nevis, SIOR, CCIM, Senior Vice President, Industrial Specialist

Dave Simonsen, SIOR, CCIM, Senior Vice President, Industrial Specialist

Steve Kucera, CCIM, Vice President, Industrial Specialist

Kidder Mathews attributes its fast growing success to its unique platform, and to the national trend of consolidation in the commercial real estate industry among large publicly held firms, which is typically not favorable to professional service providers. Kidder Mathews is a privately held firm with a streamlined management structure, opportunity for equity for its professionals, and a commission structure that is considerably more favorable to its brokers than any of its competitors.

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