SAN JOSE—Savills Studley, a commercial real estate tenant representation services firm, acquired Cooper Brady Partners, which previously operated as Cresa San Jose and Cresa Palo Alto. As of this week, the newly acquired offices will be rebranded as Savills Studley and continue to provide tenant representation, transaction management and project management services to companies across industries, particularly in the high-tech and life science sectors.
John Brady, Savills Studley's new head of the San Jose office, tells GlobeSt.com: “It is with some sadness that I am leaving the Cresa family, but Savills Studley offers their commitment to tenant representation, a formidable infrastructure and money to invest in client support services. I want to make sure that our team in the Silicon Valley has a great future with a great company. This will undoubtedly be an easy transition for our talented professionals and our clients. This acquisition provides us with global reach through the Savills platform, and that's something that will be of tremendous benefit to our clients who require an international presence.”
The Palo Alto office is located at 705 High St. and the San Jose office is located at 550 South Winchester Blvd. Within the two offices, there are 21 brokers and 10 project managers.
Steve Barker, Savills Studley executive vice president and branch manager of the firm's San Francisco office, helped facilitate the acquisition negotiations, saying, “The entire Silicon Valley region saw explosive growth in 2014 and demand continues to rise. It was imperative to strengthen our presence in this important market.”
Research highlights the global significance and market potential within Palo Alto and San Jose. Silicon Valley captured $10.7 billion of venture capital investment activity during the second half of 2014, exceeding the combined total of investment in the New York City metro region, New England, Los Angeles/Orange County and the Southeast, according to a PwC/ NVCA MoneyTree report and data by Thomson Reuters. Vacancy rates in the region range from 1% to 3%, resulting in increasing demand for office space, according to Savills Studley.
Mitchell S. Steir, chairman and CEO of Savills Studley, said, “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.”
Founded in 1954, Savills Studley pioneered the conflict-free business model of representing tenants in commercial real estate transactions. Today, supported by market research and in-depth analysis in 27 US offices, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm's platform includes brokerage, project management, capital markets, consulting and corporate services. Savills Studley is part of London-headquartered Savills plc, the premier global real estate service provider with more than 27,000 professionals in 600-plus global locations.
The firm opened its first office in Phoenix last month to take advantage of that area's growing technology influence, which is an ongoing expansion theme in many markets for an increasing number of companies.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
