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