Regions West | San Diego
Dec 18, 2007
By: Scott Baltic, Contributing Editor
Commercial real estate giant Cushman & Wakefield Inc. will be acquiring Burnham Real Estate, a regional firm based in San Diego.
Established in 1891, Burnham is San Diego’s largest independent commercial real estate brokerage, with 250 employees. Terms of the acquisition, which is scheduled to close in January, were not disclosed.
Burnham operates five offices: three in San Diego County, one in South Riverside County/Temecula and one in Las Vegas. The company’s estimated brokerage and finance transaction volume for the current year is $3 billion. Burnham president & CEO Stath Karras (pictured) will serve as executive managing director of the Cushman San Diego operation.
Once this transaction is complete, Cushman will have 13 offices in California, including 10 in Southern California. In 2006, the firm purchased San Diego Corporate Real Estate Advisors; before then, Cushman had done business in the region through alliance relationships.
Noteworthy recent deals that Burnham was involved in include the $412 million sale by Barclays’ Realty & Management Co. of a 16-property retail portfolio across four states, the acquisition of two retail centers for $53.6 million by Kimco Realty Corp. and the $30 million sale of a retail center in Poway, Calif.
Cushman & Wakefield is the world’s largest privately held commercial real estate services firm and has 215 offices in 56 countries and more than 12,000 employees.
By: Scott Baltic, Contributing Editor
Commercial real estate giant Cushman & Wakefield Inc. will be acquiring Burnham Real Estate, a regional firm based in San Diego. Established in 1891, Burnham is San Diego’s largest independent commercial real estate brokerage, with 250 employees. Terms of the acquisition, which is scheduled to close in January, were not disclosed.
Burnham operates five offices: three in San Diego County, one in South Riverside County/Temecula and one in Las Vegas. The company’s estimated brokerage and finance transaction volume for the current year is $3 billion. Burnham president & CEO Stath Karras (pictured) will serve as executive managing director of the Cushman San Diego operation.
Once this transaction is complete, Cushman will have 13 offices in California, including 10 in Southern California. In 2006, the firm purchased San Diego Corporate Real Estate Advisors; before then, Cushman had done business in the region through alliance relationships.
Noteworthy recent deals that Burnham was involved in include the $412 million sale by Barclays’ Realty & Management Co. of a 16-property retail portfolio across four states, the acquisition of two retail centers for $53.6 million by Kimco Realty Corp. and the $30 million sale of a retail center in Poway, Calif.
Cushman & Wakefield is the world’s largest privately held commercial real estate services firm and has 215 offices in 56 countries and more than 12,000 employees.
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