Cushman & Wakefield is to buy San Diego-based agent Burnham Real Estate.
The New York-based firm aims to become ‘the leading commercial real estate firm in San Diego’ following the completion of the deal in January.
San Diego to Las Vegas
Burnham Real Estate, founded in 1891, has 250 professionals and employees operating from three offices in San Diego County, South Riverside County/Temecula, and Las Vegas, Nevada.
Its services include traditional brokerage, corporate services, asset services, capital markets, advisory services, strategic corporate consulting and project management.
$3bn of deals
It has been involved in an estimated $3bn (£1.5bn) of deals this year.
Burnham is led by president and CEO Stath Karras, who will become executive managing director of the Cushman & Wakefield San Diego operation, which from next year will include the three former Burnham Real Estate offices.
The addition of Burnham follows Cushman & Wakefield’s 2006 acquisition of San Diego Corporate Real Estate Advisors. Prior to 2006, Cushman & Wakefield served clients in the region through an alliance relationship. When the transaction is complete, Cushman & Wakefield will maintain 13 full-service offices throughout California, including 10 in southern California.