Sacramento-based boutique commercial brokerage Capital Rivers Commercial has expanded its footprint, nearly all the way to the Oregon border.
Capital Rivers has acquired the assets of 40-year-old Redding commercial real estate brokerage Haedrich & Co. Inc., and will be bringing its brokers and staff on board in the move, said founder Greg Aguirre.
“We’re always looking for growth opportunities for our three divisions,” said Aguirre, whose firm provides brokerage, property management and development services. “They wanted to grow, and being in Redding, it’s hard.”
Aguirre said he’d struck up conversations with Haedrich brokers at a conference in Monterey, and both sides realized they were on the same page about business philosophies and trajectories. That led to discussions about joining forces, he said.
Haedrich’s two brokers, Chris and Ryan Haedrich, will be under the Capital Rivers banner as the Haedrich Group, while the company’s founder Bill Haedrich will stay on board as an adviser. Two staff members in the Redding office will also now be part of Capital Rivers.
Though hundreds of miles north of Sacramento, the Redding area isn’t completely new to Capital Rivers. Aguirre said his firm has represented Quick Quack Car Wash and gas station/convenience store Maverik in finding new locations in that part of the state, among other business there.
“So we were already making the trek and doing the work,” he said. “Now it’s easier with a local office.”
Joining Capital Rivers also benefits Haedrich clients who wanted property management services, something that firm didn’t offer before but will now, he said.
Aguirre said he couldn’t share details of the transaction, though he noted that Capital Rivers was acquiring the company’s asset rather than stock.
He said Capital Rivers is also still growing, whether through acquisitions or natural growth, so more acquisitions like Haedrich are possible in markets that make sense.
“As long as culturally it’s a good fit,” he said.
Originally published at the Sacramento Business Journal