Everett’s new brokerage and leasing firm

Published 11:11 pm Tuesday, June 3, 2008

EVERETT — Coast Real Estate Services and a national commercial real estate company have jointly formed a new brokerage and leasing firm in Everett.

The new firm, Coast Sperry Van Ness, will operate as a separate company from Coast Real Estate Services, which is owned by Tom and Shawn Hoban.

“This just enhances what we were already doing to serve commercial brokers and investors at the highest level,” said Tom Hoban, co-owner and chief executive officer at Coast.

California-based Sperry Van Ness is one of the largest commercial real estate brokerage firms in the U.S., with offices in more than 200 locations. The firm has been growing fast, said Kevin Maggiacomo, executive vice president with Sperry Van Ness.

He said the company has expanded more rapidly in other parts of the country.

“While we had a presence there (in the Northwest), we didn’t have the presence there that our competitors did,” he said.

In order to capture more business from the Puget Sound region and the rest of Washington state, Sperry Van Ness sought a local partner with a “stellar” reputation, Maggiacomo said. That search led to Coast.

This is only the second time since Sperry Van Ness’ founding 20 years ago that the firm has signed a regional developer agreement with a company such as Coast, he added.

“They’re going to control the growth of the Sperry Van Ness brand in the state of Washington,” he said of the new firm.

While the new brokerage and leasing services firm will operate separately from Coast Real Estate Services, the two will be based in the same downtown Everett office building, Tom Hoban said.

Sperry Van Ness’ original founders are still active owners of their business, just like Coast Real Estate Services. Tom Hoban said that match of philosophies and experience made the partnership attractive. He stressed that the deal also keeps complete ownership of Coast in the Hoban brothers’ hands.

The Hobans launched Coast 20 years ago, doing business at first in a converted garage. It is now the largest commercial real estate company based north of Seattle, with 400 employees across five Northwest states, including about 60 employees in Everett.

Tom Hoban said the brokerage and leasing services side of Coast was growing well before Sperry Van Ness approached the company. With the creation of the new firm, he expects that part of the business to continue. The national affiliation also should bring more national attention to this area’s commercial real estate market, he added.

“I’m excited because I think this brings an exposure to the north Puget Sound area that hasn’t been here before,” Tom Hoban said. “The pump is primed. We want to continue to pump it so we can bring more opportunity to this market.”

Reporter Eric Fetters: 425-339-3453 or fetters@heraldnet.com.