Cassidy Turley

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Cassidy Turley
Private
Industry Commercial Real Estate Services
Headquarters Washington, D.C., United States
Key people
 Joseph Stettinius Jr. (CEO)
Walter D. Pinkard, Jr. (Chairman)
Michael Kamm (President)
Shelley Radomski (COO)
John J. Fleury (CFO)
Number of employees
 3,700 (February 2013)
Website www.cassidyturley.com

Cassidy Turley was a privately owned commercial real estate services firm.[1]

Cassidy Turley was acquired by a private equity investment consortium backed by TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan. In January 2015 Cassidy Turley and DTZ were combined under the New DTZ brand.[2][3]

History

In 2008, four firms—Colliers Turley Martin Tucker in the Central U.S.; Colliers Pinkard in Baltimore, Raleigh and Charlotte; Cassidy & Pinkard Colliers in Washington, DC; and Colliers ABR[4] in New York City—merged to form a joint holding company.[5] The four firms, part of the Colliers International network, continued to operate under their names and brands in each market, but consolidated leadership, with Mark Burkhart of Colliers Turley Martin Tucker becoming CEO of the holding company.[6][7]

In early 2010, FirstService Corp., parent company of Colliers International, merged the U.S. and global operations of Colliers and FirstService Real Estate Advisors. That same year, the holding company of Colliers Turley Martin Tucker, Colliers Pinkard, Cassidy & Pinkard Colliers and Colliers ABR – and Colliers Houston & Co. of New Jersey, NAI affiliate BT Commercial in Northern California, Grubb & Ellis BRE Commercial in San Diego and Phoenix – formed a new national company under the brand of Cassidy Turley. Soon after, CPS CORFAC in Santa Clara, CA joined Cassidy Turley as Cassidy Turley CPS.[8]

During 2010 and 2011 Cassidy Turley added offices in Milwaukee, WI[9] Denver, CO,[10] Louisville, KY[11] and Dallas and Houston, TX.[12] In 2010, the firm formed an international partnership with GVA[13] to provide services outside the U.S.[14]

On September 6, 2011, Cassidy Turley completed its acquisition of the brokerage and property management business lines of Carter, a commercial real estate services firm headquartered in Atlanta.[15] On September 15, 2011, Cassidy Turley announced its acquisition of FHO Partners, a commercial real estate brokerage and advisory firm in Boston.[16][17]

Cassidy Turley opened its first Los Angeles office on April 30, 2012, when it hired four brokers from Transwestern to lead Cassidy Turley's growth in the city.[18]

On Oct. 5, 2012, Cassidy Turley's board of directors unanimously elected Joseph Stettinius Jr. as the company's new CEO, replacing Mark Burkhart, who now serves as an advisor to the company.[19] With Stettinius' election, Cassidy Turley effectively moved its national headquarters to Washington, DC, where he is based.

On Jan. 2, 2013, Cassidy Turley expanded its Florida presence by completing a merger with Tampa-based CLW Real Estate Service Group.[20] The following week, Cassidy Turley promoted Michael Kamm, based in San Francisco, to president.[21]

According to an article in the April 2013 issue of Real Estate Forum, Cassidy Turley ranked No. 5 on the 2013 edition of Lipsey Co.'s annual survey of the Top 25 brands in commercial real estate.[22]

In July 2013, the company announced plans to open a new office in downtown St. Louis initially with 30 employees in October, adding to the seven already in the region.[23] It has 800 employees in the region presently with its main St. Louis office in the Clayton, Missouri suburb.[24]

In September 2014, the company announced that it has entered into an agreement with an affiliate of DTZ Investment Holdings, backed by TPG, PAG Asia Capital and Ontario Teachers’ Pension Plan (the Consortium that agreed to acquire DTZ), to sell 100% of the equity interests of Cassidy Turley. The agreement is subject to customary closing conditions and is dependent on Cassidy Turley’s combination with the operations of DTZ Group (DTZ) to create a global, full-service commercial real estate services company. The Consortium’s acquisition of DTZ is currently scheduled to close in early November 2014. The acquisition of Cassidy Turley is expected to close December 31, 2014.[25]

On January 5, 2015, DTZ, a global leader in commercial real estate services, announced that Cassidy Turley and DTZ are now operating as a single global firm following the completion of the acquisition of Cassidy Turley by the private equity investment consortium backed by TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan. The consortium acquired DTZ in November 2014.[2]

Structure

Cassidy Turley was organized across service lines: capital markets,[26][27] tenant representation, corporate services, project and development services, project leasing, property management and research and consulting. The firm operated industry practice groups in nonprofit, legal, food and beverage, hospitality and healthcare.

Research

Cassidy Turley Research tracked key economic indicators with correlation to the local[28] and national commercial real estate market:

  • Forecasts of macroeconomic & market-specific variables
  • Sensitivity analyses of demand/supply fundamentals
  • Development cycle analyses
  • Elasticity of demand based on current & future market dynamics
  • Primary & secondary data analyses of 80 U.S. metropolitan markets
  • Legislative issues
  • Investment sales and leasing of Office,[29][30] Industrial, Retail,[31] and Multi-Family properties

Corporate social responsibility

Dedication to local communities was a stated Cassidy Turley Core Value.[32]

Cassidy Turley incorporated sustainable real estate alternatives into other companies' businesses[33][34]

Affiliations

Awards

Industry

  • 2014 Outlook Award presented to Kevin Thorpe by the National Association for Business Economics[38]
  • 2014 ENERGY STAR Partner of the Year[39]
  • 2013 Global Outsourcing 100 Leaders List [40]
  • 2013 ENERGY STAR Partner of the Year [41]
  • 2012 Greenest Companies Index in Commercial Property News [42]
  • Best Practices Index, Commercial Property Executive (2011)[43]
  • International Association of Outsourcing Professionals 2011 Global Outsourcing 100 Leaders List[44]
  • Top Commercial Real Estate Brand, Lipsey (2012)[45]
  • "Most Powerful Brokerage Firms"[46]
  • "Property Management Brokerage Honors”[47]
  • Greenest Companies, Platinum (2011)[48]
  • 2011 Rebrand 100 Global Award[49]

Work Environment

Individual offices named as one of the Best Places to Work:

See also

References

  1. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ 2.0 2.1 http://dtz.cassidyturley.com/news/press-releases/entry/topic/tpg_pag_consortium_completes_acquisition_of_cassidy_turley
  3. ↑ http://www.costar.com/News/Article/Merger-Now-Completed-Cassidy-Turley-Officially-Becomes-DTZ/167583
  4. ↑ Pincus, Adam. (2010-01-04) Colliers ABR to split from Colliers International, become part of new company. Therealdeal.com. Retrieved on 2013-12-06.
  5. ↑ Quartet of Colliers Firms to Merge, Los Angeles to Streamline | Commercial Property Executive. Cpexecutive.com (2008-08-13). Retrieved on 2013-12-06.
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ Drummer, Randyl. (2010-01-06) Rebranded Colliers International Moves Further From Network Roots - CoStar Group. Costar.com. Retrieved on 2013-12-06.
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Drummer, Randyl. (2010-01-13) Industry Takes Stock of Shifting Landscape in Wake of Colliers, Cassidy Rebrandings - CoStar Group. Costar.com. Retrieved on 2013-12-06.
  15. ↑ Cassidy Turley Snaps Up Carter’s Brokerage, Property Management Businesses | Commercial Property Executive. Cpexecutive.com (2011-09-08). Retrieved on 2013-12-06.
  16. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  17. ↑ Cassidy Turley Becomes a Big Player in Boston with FHO Partners Buy | Commercial Property Executive. Cpexecutive.com (2011-09-16). Retrieved on 2013-12-06.
  18. ↑ St. Louis Real Estate Brokerage Opens Office Downtown | Los Angeles Business Journal. Labusinessjournal.com (2012-04-30). Retrieved on 2013-12-06.
  19. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  20. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  21. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  22. ↑ http://www.cassidyturley.com/Portals/0/Media%20Spotlight/REForum_April2013.pdf
  23. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  24. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  25. ↑ http://www.cassidyturley.com/news/press-releases/entry/topic/cassidy_turley_and_dtz_to_combine_under_new_ownership
  26. ↑ Cassidy Turley taps distressed debt expert | Crain's New York Business. Crainsnewyork.com. Retrieved on 2013-12-06.
  27. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  28. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  29. ↑ Class A office landlords growing more confident | Crain's New York Business. Crainsnewyork.com. Retrieved on 2013-12-06.
  30. ↑ High-tech may boost office market, Cassidy Turley says | UTSanDiego.com. Signonsandiego.com (2011-07-05). Retrieved on 2013-12-06.
  31. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  32. ↑ Eight Companies Broaden Business and Rebrand as Cassidy Turley. Dsnews.com (2010-01-11). Retrieved on 2013-12-06.
  33. ↑ REBusinessOnline.com. REBusinessOnline.com (2013-12-02). Retrieved on 2013-12-06.
  34. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  35. ↑ U.S. Green Building Council. Usgbc.org. Retrieved on 2013-12-06.
  36. ↑ Energy Star Partner List : Energy Star. Energystar.gov. Retrieved on 2013-12-06.
  37. ↑ http://www.cassidyturley.com/news/press-releases/entry/topic/wharton_initiative_for_global_environmental_leadership_and_cassidy_turley_announce_partnership
  38. ↑ http://www.cassidyturley.com/news/press-releases/entry/topic/kevin_thorpe_wins_national_association_of_business_economics_outlook_award
  39. ↑ http://www.cassidyturley.com/news/press-releases/entry/topic/epa_names_cassidy_turley_2014_energy_star_partner_of_the_year
  40. ↑ http://www.cassidyturley.com/news/press-releases/entry/topic/iaop_names_cassidy_turley_to_2013_global_outsourcing_100_list_
  41. ↑ https://www.cassidyturley.com/news/press-releases/entry/topic/epa_names_cassidy_turley_2013_energy_star_partner_of_the_year
  42. ↑ http://www.cpexecutive.com/researchcenter/cpe-mhn-rankings/2013-greenest-companies/
  43. ↑ 2011 Best Practices Index | Commercial Property Executive. Cpexecutive.com (2011-11-29). Retrieved on 2013-12-06.
  44. ↑ 2011 Global Outsourcing 100 Sub Lists. IAOP. Retrieved on 2013-12-06.
  45. ↑ http://www.lipseyco.com/components/com_rsform/uploads/Lipsey-2012-Top-25-Final-2.pdf
  46. ↑ http://digital.cpexecutive.com/publication/?i=74663
  47. ↑ http://www.rejournals.com/2010/06/25/cassidy-turley-receives-property-management-brokerage-honors/
  48. ↑ http://www.cpexecutive.com/uncategorized/greenest-companies/
  49. ↑ http://www.rebrand.com/merit-cassidy-turley
  50. ↑ 50.0 50.1 50.2 50.3 50.4 50.5 50.6 50.7 50.8 50.9 "http://www.cassidyturley.com/about-us/careers/a-great-place-to-work"
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