Savills Studley Bolsters Silicon Valley Presence
- Apr 24, 2015
Savills Studley has acquired Cooper Brady Partners, previously known as Cresa San Jose and Cresa Palo Alto, with sights set on expanding its tenant representation, transaction management and project management services throughout Palo Alto and San Jose, Calif.
“Silicon Valley has been the primary engine of economic growth in the U.S. over the last three decades and strengthening our presence there will enhance our ability to support the needs of the region’s business base,” Mitchell Steir, Savills Studley’s chairman & CEO, said in a company release. “This acquisition brings us a dynamic team of highly experienced, client-focused professionals, and we look forward to working with them in providing industry-leading transaction and advisory services to Silicon Valley-based companies, regionally, nationally, and globally through the Savills platform.”
The Palo Alto office is located at 705 High St., and the San Jose office is located at 550 South Winchester. Combined, the two offices consist of 21 brokers and 10 project managers.
“This will undoubtedly be an easy transition for our talented professionals and our clients,” John Brady, Savills Studley’s new head of the San Jose office, said in the release. “We are excited to be part of the Savills Studley brand in the U.S. and look forward to working more closely with the Savills teams globally.”
According to research by Savills Studley, the global significance and market potential within Palo Alto and San Jose is high right now as Silicon Valley captured $10.7 billion of venture capital investment activity during the second half of 2014. This figure exceeded the combined investment total of the New York City Metro region, New England, L.A./Orange County and the Southeast.
Savills Studley also reported vacancy rates hovering between 1.0 to 3.0 percent, showing the increased demand for office space in the area.