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OAKLAND, CA-Marcus & Millichap Real Estate Investment Brokerage Co. recently opened its first East Bay office. To run it, M&M tapped Jerome Smith, most recently sales manager of the San Francisco office.

Smith tells GlobeSt.com he has brought over 13 brokers and almost as many support staff from the San Francisco office, all of whom were already focused on the East Bay. The goal is to triple the number of brokers by the end of next year, he says.

“We hear a lot of property owners saying they would sell their existing properties if they had something else to trade into,” says Smith. “By opening an office here and adding additional brokers, we expect to be to build up our inventory of quality properties.”

Smith joined M&M in October 2001 as an agent in Newport Beach, CA. He was promoted to associate status in 2002 and transferred to the San Francisco office in March 2003. He was promoted to sales manager there in June 2004. Prior to joining M&M, Smith was a member of the U.S. men’s national water polo team and a sales representative for a home security firm in Irvine, CA.

The firm’s new office is located in about 8,000 sf in Shorenstein Co’s City Center development in Downtown Oakland. Much of M&M’s staff there is focused on either the multifamily and retail investment markets. Over time, he would like to see the office move into office and retail investment brokerage as well.

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