Although both real estate firms compete directly in Northern California, the companies only have duplicate offices in Oakland and San Francisco. San Jose-based BT Commercial Real Estate first approached San Francisco-based TRI Commercial Real Estate Inc. in late 1999 about combining both firms.
Both companies then began working out details and drafting up proposals but TRI Commercial broke off discussions on Feb. 12. Because of a confidentiality agreement, details of the failed merger were not released and TRI officials did not return calls this week.
BT Commercial, which has expressed plans to expand operations by adding offices throughout the greater Bay Area, also has offices in Burlingame, Monterey, Palo Alto, San Jose and Soquel. TRI Commercial Real Estate Inc. also has offices in Walnut Creek, Roseville, Sacramento and Santa Clara.
In December, Terranomics – a wholly owned subsidiary of BT Commercial Real Estate, purchased the Northern California office of Los Angeles-based Epsteen & Associates for its Terranomics retail brokerage unit for an undisclosed amount.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
