Kidder, one of the oldest, largest and most productive brokerage firms in the Seattle area, also recently unaffiliated with Insignia because of its acquisition by CBRE and, after perusing its options, aligned with Chicago-based GVA, which had affiliates in San Francisco and Vancouver B.C. but not in Washington and Oregon. Concurrently, Kidder President Jeff Lyon committed to expanding his operation into Portland.
The new 5,200-sf office opened today on the 6th floor of Equity Office Properties' Ben Franklin Plaza in Downtown Portland. Lyon told GlobeSt.com earlier this month he was "going to open up an office and see who wants to come join the platform." On Thursday, lyon said that Coleen Colleary, a retail broker most recently with Cushman & Wakefield, also has joined the firm and that he is happy with the quality and number of brokers he's been able to attract as of the company's first day in the market.
"It's a nice start," he said, adding that Kidder will be holding its quarterly board meeting in Portland on Monday and will be hosting a reception at the company's new offices that afternoon.
Klein tells GlobeSt.com he had narrowed his offers down to "the three best" and decided last night that Kidder Mathews' offer was the best. "Insignia affiliated with Kidder because of their strong presence in the Puget Sound, strong leadership, the broad services they offered and their complementary culture," says Klein. "Those are all things I looked at and I came to the same conclusion; Kidder is the perfect platform from which to execute my business plan going forward."
Klein also made clear that what brokers and managers from national houses have said -- that Kidder provide big splits and little support -- is only half true. They are a 90-10 house, he confirms, but he says they also provide as much support as any other brokerage firm with which he's been affiliated. Moreover, unlike the national brokerage houses, he says all Kidder brokers have an opportunity to become shareholders in the company after showing consistent production over several years.
"I had heard what other brokers were saying, that they had great splits but no service," adds Carver, an office broker working in the Eastside and Vancouver submarkets. "I was pleasantly surprised."
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