Cassidy Turley Acquires Synergy Commercial Advisors
- Aug 04, 2014
Cassidy Turley’s presence in North Carolina’s Research Triangle is getting a big boost with the firm’s acquisition of Synergy Commercial Advisors.
“Synergy has a lot of very talented professionals and culturally, they fit very nicely,” Doug Brandon, regional managing principal with Cassidy Turley, told CPE.
Cassidy Turley had been planning to expand its Raleigh operations for some time, and Synergy, which has become a local leader in the business since making its debut in 2008, fit the bill. Synergy is firmly ensconced in the Research Triangle market, providing tenant representation, project marketing services and investment sales services, with a strong focus on establishing and nurturing relationships.
“With everything that’s going on in the Research Triangle Park…well, it’s just a phenomenal market, but we had a real void in our tenant rep over there and Synergy filled that void,” Brandon said. “We have a great project development business, a great property management business; we just needed to add more strength and Synergy fell right into that sweet spot.”
Home to the renowned Research Triangle Park, the area is the Southeast’s research and high-tech nerve center, and times are good. “No question about it: the Triangle is booming,” as Cassidy Turley noted in a second-quarter report. “The unemployment rate, currently 5.2%, is declining more rapidly than in the country as a whole. The labor force is increasing and job growth is accelerating.”
Having successfully fortified its Raleigh office by bringing Synergy into the fold, Cassidy Turley is now turning its attention to filling gaps elsewhere across the country. Brandon noted that the firm has no presence in Chicago and only a small one in Los Angeles. And it Atlanta, he said, “We have a pretty good presence but we’re not near where we need to be.” That seems to point toward more acquisitions to come from Cassidy Turley.