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Business

Oldest Regional Commercial Real Estate Brokerage Firm Changes Hands

Pacifica Commercial Central Coast’s acquisition of Pacifica Commercial Realty is a stepping stone to expanding its operations, according to PCR principal and partner Mark Mattingly

The oldest and largest commercial real estate brokerage firm on the Central Coast has changed hands.

Pacifica Commercial Central Coast last month purchased the Santa Barbara office of Pacifica Commercial Realty from Pacifica Real Estate Group

PREG was founded in 1969 by principal Jerry Beaver, who also founded Pacifica Commercial Realty.

PREG, which primary does investment syndication for its clients, was the parent company of PCR, which has two offices in Santa Barbara and Santa Maria.

Pacifica Commercial Central Coast is a holding company that does business as Pacifica Commercial Realty. Its two primary operations are commercial brokerage and commercial property management.

PCCC was born in 2007 when partners in the Santa Maria office wanted to buy the office from Santa Barbara-based PREG, which does business in several other western states, said PCR executive vice president and PCCC partner Mark Mattingly.

The following year, those partners opened a Paso Robles office in San Luis Obispo County after joining forces with Hastings Enterprises, a longtime broker and property manager that was already there.

The PREG ownership’s proposal that PCCC buy their PCR office in Santa Barbara brought the entire Pacifica commercial brokerage operation under PCCC’s umbrella, Mattingly told Noozhawk.

And with Beaver’s retirement from the commercial brokerage, it made sense for the brokerage firm to change hands, he said.

“It gives the partners of Pacifica Commercial Central Coast more flexibility to determine how we want to grow our business,” Mattingly told Noozhawk.

Right now, he said, Pacifica is aiming to open an office in San Luis Obispo and continue expanding its property management business, along with its commercial real estate brokerage business.

None of the firm’s operations was affected by the move, and the firm will continue doing business at 200 E. Carillo St.

“We had the corporate infrastructure in place through the earlier creation of Pacifica Commercial Central Coast, and so it was easy to make the acquisition through that entity,” Mattingly said.

Noozhawk staff writer Sam Goldman can be reached at .(JavaScript must be enabled to view this email address). Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.

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