http://pleasantonweekly.com/print/story/print/2014/04/11/prudential-california-realtys-pearson-properties-expands-with-acquisition


Pleasanton Weekly

Real Estate - April 11, 2014

Prudential California Realty's Pearson Properties expands with acquisition

'Extremely optimistic about housing market,' CEO says

by Jeb Bing

Prudential California Realty, a Pearson Properties company based in San Ramon with an office in Pleasanton, has acquired another real estate brokerage with the same Prudential name that has offices in Benicia, Fairfield and the Central Valley.

The acquired real estate firm is an eight-office business with 170 agents in the Central Valley and North Bay that transacted over $360 million of property sales and nearly 1,600 units in 2013.

Gretchen Pearson will continue to lead the operation as the president/CEO. Craig C. Lewis, former CEO of PCR, will serve as president of the Prudential Commercial Real Estate division.

With the acquisition, Prudential California Realty, Pearson Properties now has 28 office locations, with nearly 800 real estate sales professionals who produced approximately $1.70 billion sales volume in 2013.

"We are extremely optimistic about the housing market and we believe that the positive real estate trends of the past year will continue in 2014," Pearson said. "The sales professionals at Prudential California Realty have a tremendous reputation for providing exceptional and professional real estate service, and have an in depth expertise in the local markets. We are proud to have them join with our Prudential Realtors in the greater Bay Area and Sacramento markets."

PCR was founded as Stone Real Estate in 1965 in Modesto. Under the Lewis' leadership, the company joined the Prudential Real Estate Network in 1989. Lewis, who has been a broker for more than 30 years, focuses on Stanislaus County.

"Bringing these two Prudential real estate operations together allows Prudential California Realty to provide enhanced services to both consumers and associated Realtors throughout Northern California," Lewis said.

Pearson Properties PCR office in Pleasanton is located at 4725 First St.

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