SAN DIEGO -- Burnham Real Estate * Oncor International, a provider of commercial real estate services with offices throughout Southern California and Nevada, announced that it has initiated a broad regional expansion through mergers with two highly regarded real estate brokerages, one in Temecula and the other in Las Vegas.
Burnham, headquartered in San Diego with 2005 brokerage and finance transaction volume in excess of $2.7 billion, said it has formally expanded into the fast-growing Inland Empire region through a merger with CDM Group Inc. in Temecula. Burnham also expanded its presence in southern Nevada through a partnership with RL Moore & Associates of Las Vegas. Both companies are operating under the Burnham Real Estate name and brand.
"These are fast growing markets which fit our business strategy of providing land owners, developers, landlords and tenants throughout with access to the most comprehensive and effective range of commercial real estate resources," said Stath Karras, Burnham Real Estate's president and CEO. "CDM Group and RL Moore & Associates share similar corporate cultures with Burnham, where commitment to the community and professional excellence are top priorities. We are very excited about having these companies join the Burnham family and the opportunities these mergers bring for all of us."
With the Inland Empire merger, CDM Group is being renamed Burnham Real Estate-CDM and becomes the largest full-service commercial real estate firm in south Riverside County and Temecula Valley. CDM Group has been serving the area since 1988 with a full-service business platform that includes brokerage, property management and project management. The company, which currently employs 10, has completed more than $1 billion in total transaction volume since its founding. As Burnham Real Estate-CDM, the office anticipates tripling in size over the next three to five years.
Charlie Nicholls, who co-founded CDM Group Inc. with wife Patti Nicholls and Dick Kurtz, is rejoining Burnham after having helped establish Burnham's first office in Temecula nearly 20 years ago.
"Over the past 18 years, CDM Group has played a key role in the commercial real estate growth of Temecula, Murrieta, Lake Elsinore and the surrounding areas," said Nicholls. "With the support of Burnham Real Estate and its exceptional research and marketing capabilities, we will be expanding our efforts along the dynamic I-10 corridor to include San Bernardino, Ontario, Hemet and the Palm Dessert area.
"This relationship is very exciting to me personally, since Burnham was an important part of my early real estate career and we share a similar business philosophy of providing clients with a team approach and exceptional service," he said. "We look forward to helping meet the demand being created for leading edge commercial real estate services by the exceptional population and employment growth in the Inland Empire region."
In Nevada, Burnham Real Estate is expanding the size of its Las Vegas office through a partnership with RL Moore & Associates, a boutique firm founded by Las Vegas native Rob Moore in 2000. Burnham, which entered the Nevada market in 2003 with its acquisition of Realty Holdings Group, today manages a 2 million-square-foot commercial real estate portfolio in the Las Vegas region. It is also the exclusive listing agent for several noteworthy Las Vegas projects including the Molasky Corporate Center, Bank of America Plaza and Westcliff House.
With RL Moore & Associates, Burnham is strategically growing the brokerage focus of its Las Vegas office through the addition of five area professionals: principal Rob Moore, principal Lisa Brady, Matt Nelson, Bill Hogan and Lindsay Souter. The group is relocating to the Burnham Real Estate office in Las Vegas and begins operating under the Burnham name this month.
"Being able to give our clients direct access to the full range of Burnham resources, from traditional brokerage to corporate and advisory services, capital markets, and asset and project management services, just adds to the value we can provide and will most certainly position Burnham as one of the leading commercial real estate providers in southern Nevada," said Moore. "We are very excited about the new opportunities that lie ahead."
"Rob and his team have an outstanding client roster and exceptional contacts throughout southern Nevada," said David Jewkes, managing director of the Burnham Real Estate Las Vegas office. "I've known Rob for several years and his team's approach, superb track record and commitment to community are a terrific fit with Burnham and our strategy for growth in this exciting market."
Burnham Real Estate * Oncor International is headquartered in San Diego and has five regional offices throughout Southern California (including its new office in Temecula) and one in Nevada. The company's Web address is www.burnhamrealestate.com.
Grove is president of The Grove Agency.