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.
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