The absorption of Staubach by Jones Lang LaSalle in June 2007 left a gaping whole in the arena of pure tenant representation.  But it seems that at least one firm is capitalizing on the situation.  CresaPartners, in its October 24th announcement of merger with Fisher & Associates of Kansas City, is boldly assuming the mantle of “North America’s largest corporate real estate advisory firm that exclusively represents tenants”.

From a quick review of Cresa’s PR archive, it appears that the firm began touting this attribute with their announcement of a merger with Triangle Commercial of Raleigh, NC in late June.  (Cresa did NOT use the language in its announcement of a combination with Liberty Greenfield of Denver, CO, in March, or in the announcement of a combination with The Sande Company of San Diego, CA, in October 2007.) 

Of course it wasn’t the merger with Triangle that allowed Cresa to use the tagline; it was the dilution of Staubach, with its 1,000 employees and $28 billion in deal flow, into JLL’s comprehensive services platform.  The only other exclusive tenant rep firm with a national footprint is Studley, which has a fairly modest ~20 offices despite giving birth to the concept in 1954.  Cresa’s recent expansion is part of a declared strategic objective to plant their flag in “the Top 40 US commercial real estate markets and beyond”. 

Cresa today has 44 US offices, plus 5 in Canada and a few overseas outposts.  Consider also its partnership with Atisreal Group (67 offices in 14 EMEA countries), which has actually been in place since 2000, and you may start imagining a waking giant, or the fair younger sister who has been stuck in the shadows all these years.  Bottom line: It is time for Cresa’s “coming out” party.

(Suggested Reading: Lauren Eikes of The Real Deal wrote an article in July, surveying the industry in the immediate wake of the Staubach – JLL merger.)

Similar Posts:

• LaFavre Building Twin Cities Advisory Practice
• Vigorous Revival in Tenant Rep from Howard Ecker