Kidder Mathews' robust West Coast expansion continued Monday when the Seattle-headquartered real estate services company announced it has opened an Orange County, California, office.
This is the fifth office that Kidder has opened in the last 15 months, making Kidder one of the West Coast's fastest-growing, independently owed commercial real estate companies. The firm now has more than 550 real estate professionals and staff in 14 offices in Washington, Oregon, California, Arizona and Nevada.
The expansion comes as the industry is consolidating nationally and regionally where JLL this month acquired the Seattle office of Washington Partners. In announcing the Orange County office, Kidder said consolidation in the industry among publicly held firms is "typically not favorable" to brokers. Kidder, a privately held firm, is known for a commission structure that is "considerably more favorable" to brokers, the release stated.
Kidder's expansion started in late 2014 with a San Diego office. Since then, that office twice has outgrown its space. "Orange County was always the next move in our plan," Kidder Chairman and CEO Jeff Lyon said in a statement. "We know many of the successful brokers in the region, and as a result of all the consolidation in the industry, many of them are excited about our platform."
Six industrial, retail, life science and investment brokers have joined Kidder in Irvine, and the company expects have several more join the firm in the coming weeks, said Mark Read, the firm's executive vice president of brokerage. The Orange County office in Irvine expects to have as many as 30 brokers by the end of 2017, he added.
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