IRVINE, CA—Commercial tenants are embracing the conflict-free model more than ever before, and tenant-rep firm Savills Studley, having recently acquired Cresa Orange County, is now positioned to provide this more than ever, company principals tell GlobeSt.com. The New York-based Savills Studley, whose local office is based in Irvine, CA, recently completed the acquisition of Cresa Orange County, the Newport Beach affiliate of Cresa LLC in Boston, and the acquisition brings two similarly minded firms together
The two Orange County offices are merging their operations as a result of the acquisition and will operate as Savills Studley with a combined firm of 35 brokers and about 56 employees. The Irvine office of Savills Studley is believed to be the largest tenant-advisory group in the Western US by headcount.
Royce Sharf, EVP of Savills Studley, and Pat Murphy, former managing principal of Cresa Orange County, will co-manage the local office. We spoke to Sharf and Murphy about the implications of the merger and what it represents in terms of the overall Orange County real estate market.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
