Renamed Integrated Corporate Property Services LLC, the new firm specializes in corporate facilities, leasing and sales for industrial, technology and corporate office space for its clients, along with land sales and some investment activity.
"Mark Childs and I have worked together on several projects over the past four years and we have been talking about merging our firms since 2000," says Tom Hayes, president of CPS/CORFAC. The decision solidified when the two companies worked on a pitch for an industrial user last fall. "Mark's firm had a lot of industrial flair to it and we were a technology firm that did some office deals," Hayes explains. "We now do more together than we might have done apart."
With the merger, Hayes finds himself more involved in industrial property than ever before. Working in a market that includes the big three national firms – Grubb & Ellis, Cushman & Wakefield, and CB Richard Ellis, along with a lot of two- to three-man shops, he believes that Childs' background as an industrial engineer will pay dividends for the new firm.
"Tom and I have a great deal of experience in this region. We are able to offer our clients a wide range of sophisticated services, many of which we offer exclusively," Childs says.
Those services include the ability to combine engineering skills with the acquisition process, Hayes says. "A client doesn't know what he needs until he goes through a needs analysis. Then we can go out and find it for him."
Just recently, the firm worked a deal where they were retained to renew and expand the client's existing business. They conducted an engineering study to increase the density in their warehousing. Then they acquired the space the client needed with the terms the client wanted to step up for.
The new firm will retain its membership in the CORFAC network, an organization of privately held entrepreneurial commercial real estate firms serving 100 major North American and international markets through its alliance with London-based King Sturge.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
