Cassidy Turley

Cassidy Turley was a U.S.-based commercial real estate services firm formed in 2008 through the consolidation of four businesses that had operated within the Colliers International network. The founding businesses were Colliers Turley Martin Tucker in the central United States, Colliers Pinkard in parts of the Mid-Atlantic and Southeast, Cassidy & Pinkard Colliers in Washington, D.C., and Colliers ABR in New York City. Although the local firms initially retained their established names and market identities, they were placed under a common holding-company structure led by Mark Burkhart. The company developed into a national platform during a period of consolidation in the commercial property-services industry. In 2010, several additional businesses joined the organization, including Colliers Houston & Co., BT Commercial in Northern California, and Grubb & Ellis BRE Commercial in San Diego and Phoenix. The resulting organization adopted the Cassidy Turley name and subsequently expanded through new offices, mergers, and acquisitions. It added operations in Milwaukee, Denver, Louisville, Dallas, Houston, and other markets, while CPS CORFAC in Santa Clara became Cassidy Turley CPS. In 2010, Cassidy Turley also established an international partnership with GVA to extend service capabilities beyond the United States. Cassidy Turley offered a broad range of commercial property services. Its principal lines included capital markets, investment sales, tenant representation, corporate services, project and development services, project leasing, property management, and research and consulting. The firm advised clients across office, industrial, retail, and multifamily real estate and maintained practice groups serving sectors such as nonprofit organizations, legal services, food and beverage, hospitality, and healthcare. Its research operation analyzed macroeconomic conditions, supply and demand, development cycles, market elasticity, legislative issues, and primary and secondary data covering approximately 80 U.S. metropolitan areas. The company continued to broaden its geographic reach through acquisitions. In 2011 it acquired the brokerage and property-management businesses of Atlanta-based Carter and announced the acquisition of Boston brokerage and advisory firm FHO Partners. In 2012 it opened its first Los Angeles office by recruiting brokers from Transwestern. In 2013 it expanded in Florida through a merger with Tampa-based CLW Real Estate Service Group. The company also promoted sustainability-oriented real estate alternatives and maintained relationships with organizations including the U.S. Green Building Council, ENERGY STAR, and the Wharton School of the University of Pennsylvania. Leadership changed in 2012 when Joseph Stettinius Jr. became chief executive officer, succeeding Burkhart, who moved into an advisory role. The leadership transition also shifted the effective national headquarters to Washington, D.C. Cassidy Turley was recognized in industry rankings, including a fifth-place position in Lipsey Company’s 2013 survey of leading commercial real estate brands, and received recognition connected with energy efficiency, outsourcing, workplace practices, and rebranding. In September 2014, Cassidy Turley agreed to sell all of its equity interests to an affiliate associated with DTZ Investment Holdings. The transaction was connected to the consortium’s acquisition of DTZ and its plan to combine the two businesses. The acquisition closed at the end of 2014, and on January 5, 2015, Cassidy Turley and DTZ began operating as one global commercial real estate services firm. Cassidy Turley therefore ceased to operate as an independent brand, while its capabilities and personnel became part of the enlarged DTZ organization, which was later acquired by Cushman & Wakefield.

Cassidy Turley originated in 2008 when four Colliers-affiliated U.S. firms were brought together under a joint holding-company structure. The constituent businesses were Colliers Turley Martin Tucker, Colliers Pinkard, Cassidy & Pinkard Colliers, and Colliers ABR. Their local brands initially continued in their respective markets, while Mark Burkhart assumed leadership of the consolidated organization. A broader consolidation followed in 2010. After FirstService combined the U.S. and global operations of Colliers with FirstService Real Estate Advisors, the holding company joined with several other regional businesses, including Colliers Houston & Co., BT Commercial, and Grubb & Ellis BRE Commercial. The new national company adopted the Cassidy Turley name. CPS CORFAC subsequently joined as Cassidy Turley CPS. The firm added offices in several U.S. cities during 2010 and 2011 and formed an international partnership with GVA. The company’s growth strategy combined geographic expansion with acquisitions. In September 2011, it completed the purchase of Carter’s brokerage and property-management operations in Atlanta and soon announced the acquisition of Boston-based FHO Partners. In April 2012, Cassidy Turley entered Los Angeles by recruiting four brokers from Transwestern. The board elected Joseph Stettinius Jr. CEO in October 2012, with Burkhart becoming an adviser; the company’s effective national headquarters moved to Washington, D.C. Cassidy Turley expanded in Florida in January 2013 through its merger with CLW Real Estate Service Group and promoted Michael Kamm to president. The firm operated as a full-service commercial real estate adviser. Its activities included capital markets, investment sales, tenant representation, corporate services, development and project services, project leasing, property management, and research and consulting. Its research team evaluated economic and property-market indicators, supply and demand, development cycles, legislative matters, and data from numerous U.S. metropolitan areas. Cassidy Turley also organized industry practices for nonprofit, legal, food and beverage, hospitality, and healthcare clients. Sustainability and community engagement were stated elements of its corporate values, and the company had affiliations with the U.S. Green Building Council, ENERGY STAR, and the Wharton School. In September 2014, Cassidy Turley agreed to be acquired by an affiliate associated with DTZ Investment Holdings. The transaction was part of a larger plan backed by TPG Capital, PAG Asia Capital, and Ontario Teachers’ Pension Plan to combine Cassidy Turley with DTZ. The transaction closed at the end of 2014, and the two businesses announced on January 5, 2015, that they were operating as one global firm. Cassidy Turley consequently ceased to exist as an independent operating brand. The combined DTZ business later became part of Cushman & Wakefield.

• 2015

  Cassidy Turley is integrated into DTZ

  [1]Cassidy Turleyen.wikipedia.org

  The acquisition closed and Cassidy Turley and DTZ began operating as a single global firm.

• 2014

  Agreement to sell the company to a DTZ-related affiliate

  [1]Cassidy Turleyen.wikipedia.org

  Cassidy Turley entered an agreement to sell all equity interests as part of a planned combination with DTZ.

• 2013

  Florida expansion through CLW merger

  [1]Cassidy Turleyen.wikipedia.org

  Cassidy Turley strengthened its Florida presence by merging with Tampa-based CLW Real Estate Service Group.

• 2012

  Leadership changes and Los Angeles entry

  [1]Cassidy Turleyen.wikipedia.org

  The company opened its first Los Angeles office and appointed Joseph Stettinius Jr. CEO.

• 2011

  Carter and FHO Partners transactions expand the platform

  [1]Cassidy Turleyen.wikipedia.org

  Cassidy Turley acquired Carter’s brokerage and property-management operations and announced the acquisition of Boston firm FHO Partners.

• 2010

  The Cassidy Turley national brand is established

  [1]Cassidy Turleyen.wikipedia.org

  Several regional commercial real estate businesses joined the holding company, which adopted the Cassidy Turley name.

• 2008

  Four Colliers-affiliated firms form a joint holding company

  [1]Cassidy Turleyen.wikipedia.org

  Colliers Turley Martin Tucker, Colliers Pinkard, Cassidy & Pinkard Colliers, and Colliers ABR were consolidated under common leadership.

A national, full-service commercial real estate platform combining local brokerage relationships with investment, leasing, property-management, corporate-services, project, and research capabilities. The brand also emphasized community involvement, sustainability, energy efficiency, and sector-specific expertise.

• Commercial real estate advisory

  Capital markets and investment sales

  Cassidy Turley advised owners and investors on commercial property transactions, investment sales, and capital-market activity. Its coverage included office, industrial, retail, and multifamily properties, combining local market knowledge with national platform resources.

• Occupier advisory

  Tenant representation and corporate services

  The firm represented tenants and corporate occupiers in leasing, location, portfolio, and workplace-related decisions. These services formed part of its broader corporate real estate offering for organizations managing multiple facilities or markets.

• Real estate project services

  Project and development services

  Cassidy Turley provided project and development support connected with commercial properties. Its service platform also included project leasing, allowing the firm to connect development, leasing, and broader brokerage activity.

• Real estate operations

  Property management

  Property management was one of Cassidy Turley’s core service lines and was expanded through transactions such as the acquisition of Carter’s property-management business. The offering supported owners and investors after acquisition or development.

• Real estate research

  Research and consulting

  Cassidy Turley Research produced forecasts, sensitivity analyses, development-cycle studies, and supply-and-demand assessments. Its work used primary and secondary data from roughly 80 U.S. metropolitan areas and examined economic, legislative, and market-specific factors.

• 2014

  Sell Cassidy Turley and combine it with DTZM&A

  Background

  The private equity-backed consortium acquiring DTZ sought to combine the two commercial real estate services businesses.

  Action taken

  Cassidy Turley agreed to sell 100 percent of its equity interests to a DTZ-related affiliate.

  Aftermath

  The transaction closed at the end of 2014, and the two companies operated as one firm from January 2015. Cassidy Turley no longer operated independently.

  Source

• 2010

  Build a national commercial real estate platformStrategy

  Background

  The company combined several regional businesses following changes involving FirstService, Colliers, and FirstService Real Estate Advisors.

  Action taken

  It created a broader national organization under the Cassidy Turley name and added regional affiliates and offices.

  Aftermath

  The strategy produced a larger multi-market brokerage and property-services platform.

  Source

1. 1Cassidy Turleyen.wikipedia.org