Real Estate Reporter- Silicon Valley Business Journal
As he takes over as managing director of Silicon Valley, Transwestern’s Edward Del Beccaro is setting his sights high.
“We plan to grow the present brokerage capability from three to 10 brokers over next couple of years,” he told me in an email.
Del Beccaro already leads the real estate company’s East Bay operations, which include 30 agents and support staff. The expansion of his role to include Silicon Valley was announced Monday.
“Silicon Valley is one of the most significant economic and, therefore, real estate markets in the country,” he said. The company “considers it of outmost importance to have the ability to serve its clients in Silicon Valley and throughout the entire San Francisco Bay Area.”
Del Beccaro said he aims to beef up service lines here in office, RD, industrial, multifamily, healthcare services and retail. Top priorities are office/RD and health services, he said.
Transwestern isn’t alone. The Bay Area is among the most desirable areas for brokerages seeking to expand their books of business thanks to the high concentration of expanding multinationals. But that also makes it a competitive environment for attracting the industry’s human capital — namely, brokers and agents.
Transwestern is expanding its capabilities in more than three major cities across the country, part of a larger trend of real estate services firms jockeying for growth in a fragmented market.
“We plan on being opportunistic in recruiting existing entrepreneurial brokers who would rather work with a privately held company characterized by sophisticated service lines to better serve their clients and grow in the industry,” he said.
Nathan Donato-Weinstein covers commercial real estate and transportation for the Silicon Valley Business Journal.