June 24, 2008 by jack petrie.

Valuation Firm Moves to 44 Montgomery Street

American Appraisal, a large, independent valuation-related advisory services firm has relocated its San Francisco offices to 44 Montgomery Street. The firm’s offices were previously located at 595 Market Street, San Francisco.

Global Firm with Milwaukee Headquarters

American Appraisal, founded in 1896, has offices in fifty international cities including Atlanta, Chicago, Dallas, Los Angeles, New York, Princeton and Washington, D.C. The firm is headquartered in Milwaukee, Wisconsin.

Former Wells Fargo Headquarters

44 Montgomery is a 43-story, Class ‘A’ office tower consisting of 622,219 rentable square feet. Located in the downtown San Francisco Central Business District, 44 Montgomery was built in 1966-1967, completely renovated in 1992, and updated again in 1996. 44 Montgomery was originally the World Headquarters for Wells Fargo Bank and the tallest building west of the Mississippi when constructed.

44 Montgomery Street was represented in the negotiations by Erik Pentland of Seagate Properties. American Appraisal was represented by Jack Petrie and David Lambert of CresaPartners.

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June 24, 2008 by jack petrie.

The Other Real Estate Merger

CresaPartners, the nation’s leading corporate real estate advisory firm that exclusively represents tenants, and Horizon LLC, a solutions-based real estate consultancy, have joined together to provide strategic planning and facilities consulting to tenants in the New York region and nationwide.

Providing Clients a Competitive Advantage

Together, CresaPartners and Horizon form a best-in-class integrated services team, delivering comprehensive real estate solutions for the cost-conscious tenant. “Bringing our two teams together strengthens CresaPartners’ existing strategic planning and facilities consulting capabilities,” said Bill Goade, CEO of CresaPartners. “It also creates a significant competitive advantage for our current and future clients in a market that shows no signs of softening.”

Stellar Services and Client List

CresaPartners Integrated Services include: conducting pre-planning strategies and assessments; providing program management, project management and leadership support; strengthening tools, processes and methodologies; and delivering outsourced services and operations support. Keith Keppler and Kent Holliday, former principals of Horizon, will serve as principals of CresaPartners. Both have extensive national real estate consulting expertise and have worked with such prestigious companies as Genentech, AIG, GlaxoSmithKline and Amgen, to name a few.

Shared Client-Centric Values

“The ability to provide our national clients with a local presence was a key factor in our decision to join CresaPartners,” said Mr. Holliday. “CresaPartners is a natural fit for us because we share a common set of values, complementary service offerings and a client-centric culture.”

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June 24, 2008 by jack petrie.

$613 Million Industry Consolidation

With the recent announcement of the merger between Jones Lang LaSalle and The Staubach Company, CresaPartners becomes the largest North American, pure tenant advisory firm in terms of people and locations.

When asked what the impact will be in NYC on the market and the corporate tenant, I have been offering the following points:

• The JLL/Staubach merger is disadvantageous for the corporate real estate consumer because it means one less pure tenant advisory firm in the marketplace;
• The merger makes CresaPartners the tenant rep firm with the largest reach in North America. CresaPartners also has the most employees in the tenant representation model;
• This type of merger is not a surprise as consolidation has been a trend in the real estate industry for several years already;
• CresaPartners steadfastly believes in its partnership model and will remain independent despite industry trends;
• The merger provides CresaPartners with an excellent recruiting opportunity. We will be reaching out to and open to hiring experienced advisors who are committed to the pure tenant representation model.

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