Cassidy Turley

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 was acquired by DTZ, which was later acquired by Cushman & Wakefield.[2]

Cassidy Turley
IndustryCommercial Real Estate Services
Founded2010
DefunctJanuary 5, 2015 (2015-01-05)
FateAcquired by DTZ, which was acquired by Cushman & Wakefield
HeadquartersWashington, D.C.
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)

Cassidy Turley was organized across service lines: capital markets,[3][4] 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.

Cassidy Turley Research tracked key economic indicators with correlation to the local[5] 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,[6][7] Industrial, Retail,[8] and Multi-Family properties

Dedication to local communities was a stated Cassidy Turley Core Value.[9]

Cassidy Turley incorporated sustainable real estate alternatives into other companies' businesses[10][11]

History

In 2008, four firms that had been with Colliers International—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[12] in New York City—merged to form a joint holding company.[13] 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.[14][15]

In early 2010, FirstService, 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.[16]

During 2010 and 2011 Cassidy Turley added offices in Milwaukee, WI[17] Denver, CO,[18] Louisville, KY[19] and Dallas and Houston, TX.[20] In 2010, the firm formed an international partnership with GVA to provide services outside the U.S.[21]

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.[22] On September 15, 2011, Cassidy Turley announced its acquisition of FHO Partners, a commercial real estate brokerage and advisory firm in Boston.[23][24]

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.[25]

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.[26] 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.[27] The following week, Cassidy Turley promoted Michael Kamm, based in San Francisco, to president.[28]

Cassidy Turley ranked 5th on the 2013 edition of Lipsey Co.'s annual survey of the Top 25 brands in commercial real estate.[29]

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.[30] It has 800 employees in the region presently with its main St. Louis office in the Clayton, Missouri suburb.[31]

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.[32]

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.

Affiliations

Awards

Industry

  • 2014 Outlook Award presented to Kevin Thorpe by the National Association for Business Economics[36]
  • 2014 ENERGY STAR Partner of the Year[37]
  • 2013 Global Outsourcing 100 Leaders List [38]
  • 2013 ENERGY STAR Partner of the Year [39]
  • 2012 Greenest Companies Index in Commercial Property News [40]
  • Best Practices Index, Commercial Property Executive (2011)[41]
  • International Association of Outsourcing Professionals 2011 Global Outsourcing 100 Leaders List[42]
  • 3 Top Rebranding Strategy Examples, Social Media Verve (2018)[43]
  • "Most Powerful Brokerage Firms"[44]
  • "Property Management Brokerage Honors”[45]
  • Greenest Companies, Platinum (2011)[46]
  • 2011 Rebrand 100 Global Award[47]

Work Environment

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

See also

References
  1. Marino, Vivian (26 February 2010). "Mark P. Boisi". The New York Times.
  2. Painter, Kristen Leigh (January 5, 2015). "Cassidy Turley becomes DTZ with completion of merger". Star Tribune.
  3. Cassidy Turley taps distressed debt expert | Crain's New York Business. Crainsnewyork.com. Retrieved on 2013-12-06.
  4. "Cassidy Turley snags CBRE capital markets team".
  5. "It's Hardly a Ball for 11 Times Square". The Wall Street Journal. 8 February 2012.
  6. Class A office landlords growing more confident | Crain's New York Business. Crainsnewyork.com. Retrieved on 2013-12-06.
  7. High-tech may boost office market, Cassidy Turley says | UTSanDiego.com. Signonsandiego.com (2011-07-05). Retrieved on 2013-12-06.
  8. "Mid-year report: Commercial real estate vacancies drop slightly".
  9. Eight Companies Broaden Business and Rebrand as Cassidy Turley Archived December 10, 2013, at the Wayback Machine. Dsnews.com (2010-01-11). Retrieved on 2013-12-06.
  10. REBusinessOnline.com Archived December 11, 2013, at the Wayback Machine. REBusinessOnline.com (2013-12-02). Retrieved on 2013-12-06.
  11. "Edison Place nabs LEED for operations".
  12. Pincus, Adam. (2010-01-04) Colliers ABR to split from Colliers International, become part of new company. Therealdeal.com. Retrieved on 2013-12-06.
  13. Quartet of Colliers Firms to Merge, Los Angeles to Streamline | Commercial Property Executive. Cpexecutive.com (2008-08-13). Retrieved on 2013-12-06.
  14. "Mark Burkhart brokers his biggest deal".
  15. "Four Colliers firms consolidate ownerships".
  16. Sernovitz, Daniel J. (December 8, 2015). "Year in Review 2015: Cassidy Turley, DTZ, and Cushman & Wakefield unite". American City Business Journals.
  17. "Colliers Barry to become part of Cassidy Turley".
  18. "Cassidy Turley expands to Colorado".
  19. "Harry K. Moore joins Cassidy Turley".
  20. "Cassidy Turley expands in Texas".
  21. "Cassidy Turley, GVA Grimley form partnership". American City Business Journals. January 25, 2010.
  22. Cassidy Turley Snaps Up Carter’s Brokerage, Property Management Businesses | Commercial Property Executive Archived 2012-05-08 at the Wayback Machine. Cpexecutive.com (2011-09-08). Retrieved on 2013-12-06.
  23. "Sources: FHO Partners to be acquired by Cassidy Turley".
  24. Cassidy Turley Becomes a Big Player in Boston with FHO Partners Buy | Commercial Property Executive Archived 2012-05-14 at the Wayback Machine. Cpexecutive.com (2011-09-16). Retrieved on 2013-12-06.
  25. St. Louis Real Estate Brokerage Opens Office Downtown | Los Angeles Business Journal. Labusinessjournal.com (2012-04-30). Retrieved on 2013-12-06.
  26. "Cassidy Turley names D.C.'s Joe Stettinius new CEO". Washington Business Journal. 5 October 2012. Retrieved 26 February 2013.
  27. "Cassidy Turley Acquires Tampa-Based CLW Real Estate". Commercial Property Executive. 7 January 2013. Archived from the original on 30 January 2013. Retrieved 26 February 2013.
  28. "Michael Kamm Promoted to President of Cassidy Turley" (Press release). PR Newswire. January 8, 2013.
  29. http://www.cassidyturley.com/Portals/0/Media%20Spotlight/REForum_April2013.pdf
  30. "Cassidy Turley confirms plan for downtown St. Louis office". St. Louis Post-Dispatch. July 23, 2013.
  31. "Cassidy Turley considers downtown St. Louis office". St. Louis Post-Dispatch. July 18, 2013.
  32. "Cassidy Turley Agrees to be Acquired by DTZ Investment Consortium - TPG, PAG Asia Capital and Ontario Teachers' Pension Plan". Archived from the original on 2014-10-01. Retrieved 2014-10-23.
  33. U.S. Green Building Council. Usgbc.org. Retrieved on 2013-12-06.
  34. Energy Star Partner List : Energy Star. Energystar.gov. Retrieved on 2013-12-06.
  35. "Wharton Initiative for Global Environmental Leadership and Cassidy Turley Announce Partnership". Archived from the original on 2014-10-13. Retrieved 2014-10-23.
  36. "Kevin Thorpe Wins National Association for Business Economics' Outlook Award". Archived from the original on 2014-09-28. Retrieved 2014-10-22.
  37. "EPA Names Cassidy Turley 2014 ENERGY STAR Partner of the Year". Archived from the original on 2014-09-01. Retrieved 2014-10-22.
  38. "IAOP® Names Cassidy Turley to 2013 Global Outsourcing 100® List". Archived from the original on 2014-02-01. Retrieved 2014-01-31.
  39. "EPA Names Cassidy Turley 2013 ENERGY STAR® Partner of the Year". Archived from the original on 2014-02-01. Retrieved 2014-01-31.
  40. "2013 Greenest Companies". www.cpexecutive.com. 27 March 2013. Retrieved 2019-04-16.
  41. 2011 Best Practices Index | Commercial Property Executive Archived 2012-01-28 at the Wayback Machine. Cpexecutive.com (2011-11-29). Retrieved on 2013-12-06.
  42. 2011 Global Outsourcing 100 Sub Lists Archived 2011-02-27 at the Wayback Machine. IAOP. Retrieved on 2013-12-06.
  43. "3 Successful Rebranding Strategy Examples to Model from". Social Media Verve. 18 August 2018.
  44. "Commercial Real Estate News | Commercial Property Executive". www.cpexecutive.com. Retrieved 2019-04-16.
  45. "Cassidy Turley receives property management, brokerage honors | REJournals.com". Archived from the original on 2011-10-05. Retrieved 2011-07-05.
  46. "Greenest Companies". www.cpexecutive.com. 4 April 2011. Retrieved 2019-04-16.
  47. "2011 REBRAND 100 Showcase - Cassidy Turley". Archived from the original on 2011-07-22. Retrieved 2011-07-05.
  48. "http://www.cassidyturley.com/about-us/careers/a-great-place-to-work Archived 2014-02-01 at the Wayback Machine"
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