Cassidy Turley announced that former affiliates in Arizona, Colorado, Northern California and San Diego are now fully owned by Cassidy Turley. The unified ownership structure affirms the trajectory set three years ago when the firm launched.
Cassidy Turley’s Arizona, Colorado, Northern California and San Diego operations affiliated with the firm in 2010, with each bringing decades of experience and leadership in its specific market to the new company. In total, the four markets add 790 personnel, including 475 brokers, and $7.3 billion in transaction volume.
“When we began this journey with our partners in Arizona, Colorado, Northern California and San Diego in 2010, our goal was to unify the organization into a single firm at the appropriate time,” said Joseph Stettinius, CEO of Cassidy Turley.
“It’s enormously gratifying to see that vision further realized by bringing all of our major markets into a common ownership structure – especially with 100% shareholder approval in each market. Unification creates a more effective organization, but, more importantly, it enables us to better serve clients seamlessly and with greater transparency. Additionally, the mergers are both accretive to our margin and our overall business performance.”
Cassidy Turley Tri-state region, headed up by Peter Hennessy has over 400 employees with over 60 new hires in Manhattan office and 12 in NJ over the last year. NYC increased revenue 15% in 2012, increased leasing 17%, doubled capital markets, 1.5 msf of new property management assignments and 21% increase in project management.
Under the direction of Ray Trevisan, the NJ offices have consolidated into two strategic locations in Chatham and Edison, NJ to better serve clients. Over the past year, the NJ office increased 14% of leasing of both office and industiral over the previous year. Additionally, the property management portfolio has doubled in size to 6.1 million square feet.