SAN DIEGO—As part of Kidder Mathews' aggressive growth strategy in San Diego, it has acquired StepStone Real Estate Services, a San Diego asset and property management firm. StepStone has a portfolio of 600,000 square feet of retail, office, and mixed-use properties, and has been providing asset, advisory, and property management services in the San Diego Market for 20 years.

Kidder Mathews, a fast-growing West Coast commercial real estate firm with three offices in the Bay Area expanded into Southern California opening their San Diego office in Del Mar Heights in January when they recruited eight veteran top producing San Diego brokers. The firm's typical brand format is a full-service offering including brokerage, property management, and valuation advisory services for all commercial property types. Prior to opening the San Diego office, Kidder Mathews was managing 800,000 square feet of biotech space in La Jolla. The acquisition of StepStone fits with the firm's plan to expand their property management service line, and StepStone's particular strength in retail properties compliments Kidder's retail growth strategy.

The StepStone group joining Kidder Mathews consists of founder and well-known San Diego commercial real estate professional, Jack Naliboff, Kathy Giraldo Carlson, Mark Vallecorsa, and four additional StepStone employees. "The group's expertise will be helpful as we expand further into Orange County and Los Angeles", said Mark Read, Kidder's San Diego managing partner.