Image via PACCRA brochure
Written by The Business Journal Staff
A pair of real estate brokerages that joined forces 10 years ago to serve the central San Joaquin Valley have officially consummated their relationship.
Pacific Commercial Realty Advisors (PACCRA) was previously a member of the Cushman & Wakefield Alliance, an initiative that expands Cushman & Wakefield’s distribution channel for clients in strategic markets.
The partnership gave Cushman & Wakefield a foothold in a market where it didn’t previously have a presence.
Now PACCRA is officially part of Cushman & Wakefield’s operations, along with its offices in Fresno, Bakersfield, Santa Clarita and Boise, Idaho. The terms of the deal were not disclosed.
“We are thrilled in having PACCRA join Cushman & Wakefield, which cements our long-term partnership with a shared vision and mission of collaboration, innovation and delivering exceptional value to our clients, while also enhancing our business in these markets,” said Dan Broderick, president of the West Region for Cushman & Wakefield. “PACCRA is a very talented and well-respected team of professionals who perform at a high level and importantly share in our values and culture of teamwork, drive, integrity and client success.”
PACCRA, an alliance member of Cushman & Wakefield since 2012, is owned and operated by partners Vincent Roche, Duane Keathley, Jeff Andrew and Wayne Kress and has more than 40 brokers with exemplary expertise and deep roots in the markets they serve, according to a news release announcing the acquisition.
PACCRA was formed as the successor company to CB Bakersfield Partners, an affiliate since 1999 with CBRE, Inc., another global real estate brokerage. The Fresno office was acquired in 2014. Idaho Cushman & Wakefield was born in 2016.
The PACCRA team specializes in commercial real estate property of all types, including industrial, office, retail, hospitality, investment, land and multifamily, and has experience in a variety of service areas, including tenant representation, landlord representation, property disposition, buyer representation, valuation & consulting, financial management, property management and building operations.
“PACCRA is delighted by Cushman & Wakefield’s acquisition,” said Vincent Roche, PACCRA’s president. “Their interest is both a recognition of the strong performance of the markets we serve and a statement about their expectations for the future. At the same time, they provide our team of sales professionals and support staff best-in-class resources, greater access to clients, and a broader and deeper platform of services. As a unified team, we look forward to continuing to deliver value and impactful results for our clients and our people. This was very important to us.”
Cushman & Wakefield is a leading global real estate services firm with about 50,000 employees in more than 400 offices and 60 companies. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management.