While Lee & Associates has a strong presence in the San Gabriel Valley and the L.A. North/Ventura market, the firm has yet to penetrate the Pasadena market, especially in the office and retail sectors. "We think that having an office in that market will help our penetration and will help service our clients later," says Rinkov, while Larimore notes the growing opportunities in the market. "One of the reasons why we are doing this is to help our current clients move into the area because we do think that there is a lot of opportunity in the tri-city area and the San Gabriel Valley that many people aren't aware of," he tells GlobeSt.com.

Larimore is moving from the City of Industry office to lead the new firm, and will be recruiting new brokers to join him in the new office. "Our effort to grow the office is going to be through recruiting," says Rinkov. "We have identified a good list of best-of-class brokers that we think would have an appreciation for our platform. This opening is going to be a big lift off for that recruiting effort."

Lee & Associates has been aggressively expanding its presence nationally over the past five years. Earlier this month, the firm also announced its international expansion with the opening of a new office in Vancouver, British Columbia, Canada.