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February 07, 2017

Merger makes Kidder Mathews the West Coast's largest independent real estate firm

Puget Sound Business Journal

Marc Stiles

Seattle-based commercial real estate company Kidder Mathews' growth continued Tuesday, when the company announced it has merged with Los Angeles-based Heger Industrial.

For Kidder Mathews, it's not about expanding its industrial practice in Los Angeles - Chairman and CEO Jeff Lyon said the merger will allow his company to expand into all commercial property types and services in the nation's second largest city.

The newly merged company retains the Kidder Mathews name and operating structure. Financial terms were not disclosed.

It's the latest move in Kidder's aggressive West Coast growth strategy. During the last two years, the company has grown to 20 offices with more than 650 professionals and staff. Already the Puget Sound region's largest commercial brokerage based on the number of brokers, Kidder Mathews says it is now the West Coast's largest independently owned commercial brokerage.

Each year, the firm does $5.6 billion in transactions, manages 45 million square feet of office, industrial and warehouse space, and conducts 1,300 appraisals.

The commercial real estate industry is experiencing a wave of nationwide consolidation. To grow as part of this trend, Kidder Mathews promotes its higher commissions, streamlined management structure and the opportunity for every employee to become a shareholder.

Heger was founded in 1957 and grew into one of the most dominant industrial real estate companies in Los Angeles. At the time of the merger, the company employed 35 commercial real estate professionals and staff and and had offices in Long Beach and Commerce, California and Phoenix, Arizona.

Heger CEO Robert Thornburgh joins the Kidder Mathews executive leadership committee. Thornburgh and Heger Executive Vice President Tom Holland both will be executive vice presidents and partners at Kidder Mathews.

For the full story, go to Puget Sound Business Journal.

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