Savills Studley Acquires Cresa Orange County
- Feb 15, 2017
Newport Beach, Calif.—Savills Studley announced it has acquired Cresa Orange County, increasing the company’s presence in the region and underscoring its ongoing initiative to expand its conflict-free platform across North America.
Founded by Executive Vice President Royce Sharf, Savills Studley has had an office in Orange County since 1987. Sharf, in partnership with former Managing Principal of Cresa Orange County Pat Murphy, will manage the expanded operation. The two offices bring together a total of 56 employees, making the company the largest tenant advisory group in the region.
The existing Irvine office and former Cresa office will come together into a single workplace by mid-year. The group will provide tenant representation, transaction management, project administration and workplace solutions to occupiers across all industries, with an emphasis on the aerospace, technology and professional services sectors. There will also be an enhanced focus on industrial services and the Inland Empire, where the company already has a presence.
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 in prepared remarks. “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.”
Image courtesy of Savills Studley