Savills Studley Strengthens Orange County Presence with Acquisition of Regional Cresa Office
NEW YORK (PRWEB) February 14, 2017 -- Savills Studley, the leading commercial real estate firm specializing in tenant representation, announced today it has acquired Cresa Orange County. The acquisition dramatically increases the company’s presence in the region and underscores Savills Studley’s ongoing initiative to expand its conflict-free platform across North America.
Savills Studley has had an office in Orange County since 1987, founded by Executive Vice President Royce Sharf. He, along with Pat Murphy, former Managing Principal of Cresa Orange County will co-manage the expanded operation. Between the two offices, there will be a total headcount of 56, making Savills Studley the largest tenant advisory group in the region.
“This talented team has an extensive background in tenant representation, complementing our already formidable presence in Orange County. The depth of resources available to clients will be significantly enhanced by combining the expertise and reach of both offices,” said Mark Sullivan, Executive Vice President, Director and Regional Manager of Savills Studley.
Savills Studley’s existing Irvine office and the former Cresa Newport Beach office will consolidate into a new, single workplace midyear. Together, the group will continue to provide tenant representation, transaction management, project administration and workplace solutions to occupiers across all industries, with a particular emphasis on the aerospace, technology and professional services sectors. Additionally, there will be an enhanced focus on industrial services and the Inland Empire, where the company already has a presence.
“Both of our firms focus exclusively on representing tenants and by combining forces we are uniquely positioned to take the conflict-free platform to the next level,” said Sharf. “I have always viewed the Cresa Orange County office as highly respected competitors and look forward to working with them as highly regarded colleagues, leveraging that synergy to the benefit of our clients,” he added. Sharf and Murphy have known each other for 30 years.
Savills Studley has recently acquired a number of other firms specializing in tenant representation including offices in North Carolina and Seattle in 2016 and San Jose, Palo Alto, Austin and Toronto in 2015. The firm also hired several top-performing teams in New York, Dallas, Phoenix and Denver earlier this year.
“This acquisition further demonstrates our dedication to continuing to invest in west coast hubs, following our Silicon Valley expansion two years ago,” said Savills Studley President Michael Colacino. “The addition of this group will support and enhance our local business as well as provide more opportunities for us to serve clients nationally and internationally.”
About Savills Studley
Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 29 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.
The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).
For more information, please visit http://www.savills-studley.com and follow us on Twitter @SavillsStudley and LinkedIn.
Greg McGunagle, Savills Studley, +1 (212) 326-1078, [email protected]
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