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January 18, 2011

Kidder Mathews hires Reed Payne to Head Bay Area Region

San Francisco, CA - Long-time Bay Area commercial real estate broker and former CB Richard Ellis (CBRE) senior vice president, Reed Payne, joins Kidder Mathews as executive vice president to manage the company's Northern California brokerage group. Previously, Payne was a member of CBRE's private client group, specializing in investment sales of office, industrial and R&D properties. Over the last 10 years, he has handled in excess of 11 million square feet of transactions totaling more than $1 billion in sales volume. In addition to his brokerage career with the CBRE organization, he has held numerous management positions over the years.

"I have been watching Kidder Mathews over the last couple years, and I feel now is a great opportunity to become part of this up-and-coming entrepreneurial firm. They are the dominant force in the Pacific Northwest, and I believe we will do the same thing in the Bay Area," says Payne.

Despite the state of the commercial real estate market over the last few years, Kidder Mathews has been on a meteoric growth trajectory since it entered the Bay Area market 4 years ago with its first office in downtown San Francisco. Since then, they have expanded with additional offices on the Peninsula as well as the Silicon Valley, largely through the efforts of Bay Area managing partners, Steve Bouret and Gregg Domanico. "We have grown by 450%, from 17 to 76 people in a relatively short period, so the time is right to hire a full-time brokerage manager to help us continue our growth path," says Jeff Lyon, the firm's Chairman & CEO. Domanico and Bouret, sought out Payne and feel he is the perfect fit for the firm's culture, and a good solution to allow them to focus more on business development as well as continuing to help grow the Northern California platform. "I have known Reed for almost 25 years, and we believe he has the right blend of leadership, brokerage, and management skills to be hugely successful in this role. He is the absolute right guy for this job and we are ecstatic that he has chosen to join us," said Bouret.

Kidder Mathews is the fastest growing commercial real estate firm in the Bay Area, and one of the largest full-service independent firms on the West Coast with over 400 professionals and staff in 9 offices including downtown San Francisco, Redwood Shores and Santa Clara, as well as locations in Washington and Oregon. The firm provides a full range of brokerage, appraisal, property management, consulting, sustainability practices, forestland services, and construction and development management services. They performed $6 billion in transactions over the last 3 years, manage over 22 million square feet of space, and conduct 1,000 appraisals annually. For more information, go to www.kiddermathews.com.

For inquiries, please contact Karen Benoit at 206.296.9600 or email: kbenoit@kiddermathews.com

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