{"id":1004106256,"date":"2014-10-28T07:30:48","date_gmt":"2014-10-28T15:30:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004106256"},"modified":"2022-12-07T23:51:10","modified_gmt":"2022-12-08T07:51:10","slug":"cresa-brings-travers-realty-into-the-fold-boosts-southern-california-footprint","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cresa-brings-travers-realty-into-the-fold-boosts-southern-california-footprint\/","title":{"rendered":"Cresa Brings Travers Realty into the Fold, Boosts Southern California Footprint"},"content":{"rendered":"<p><em>By Keith Loria, Contributing Editor<\/em><\/p>\n<p>Travers Realty Corp. has merged with the Southern California offices of Boston-based Cresa to form a powerhouse tenant representation firm with nearly 150 local employees and more than 1,000 internationally.<\/p>\n<div id=\"attachment_1004106261\" style=\"width: 233px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/10\/Jerry-Porter_Cresa_photo.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004106261\" data-attachment-id=\"1004106261\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cresa-brings-travers-realty-into-the-fold-boosts-southern-california-footprint\/jerry-porter_cresa_photo\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/10\/Jerry-Porter_Cresa_photo.jpg\" data-orig-size=\"1500,2014\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;7.1&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 5D Mark II&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1360838703&quot;,&quot;copyright&quot;:&quot;\\u00a9Robert Wilde www.robertwildephoto.com&quot;,&quot;focal_length&quot;:&quot;111&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.005&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Jerry Porter_Cresa_photo\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Gerald Porter, &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/10\/Jerry-Porter_Cresa_photo.jpg?w=763\" class=\"size-medium wp-image-1004106261\" alt=\"Gerald Porter, \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/10\/Jerry-Porter_Cresa_photo.jpg\" width=\"223\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/10\/Jerry-Porter_Cresa_photo.jpg 1500w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/10\/Jerry-Porter_Cresa_photo.jpg?resize=223,300 223w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/10\/Jerry-Porter_Cresa_photo.jpg?resize=768,1031 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/10\/Jerry-Porter_Cresa_photo.jpg?resize=763,1024 763w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/10\/Jerry-Porter_Cresa_photo.jpg?resize=1144,1536 1144w\" sizes=\"auto, (max-width: 223px) 100vw, 223px\" \/><\/a><p id=\"caption-attachment-1004106261\" class=\"wp-caption-text\">Gerald Porter, Cresa<\/p><\/div>\n<p>\u201cThis was not about industry consolidation. We are two friendly competitors who share a singular focus on tenant-only brokerage and prefer not to be consolidated,\u201d Gerald Porter, a Cresa co-founder and managing principal based in Los Angeles, told <i>Commercial Property Executive<\/i>. \u201cThe timing was merely coincidental, since we have talked about doing this for a while.\u201d<\/p>\n<p>The merger will bring 32 brokerage professionals to Cresa\u2019s operations in Los Angeles and Orange Counties with offices in West Los Angeles, Woodland Hills and Newport Beach. Cresa will maintain the current Travers Realty headquarters in downtown Los Angeles, which will be rebranded Travers Cresa.<\/p>\n<p>\u201cI think the immediate result will be better service for our clients\u2014they are very successful with some industry groups that we don\u2019t currently service and we offer additional service lines and geographic coverage that will help them to better support their present and future clients,\u201d Porter said. \u201cWe think this merger will benefit everyone. We\u2019re very excited.\u201d<\/p>\n<p>Travers Realty founder James Travers will become managing principal and a member of the Cresa Los Angeles board of directors.<\/p>\n<p>\u201cOur business is not overly complicated. Jim\u2019s team will manage the downtown office and we will continue to manage the West L.A., Woodland Hills and Newport Beach offices, but we are all partners and will collaborate on every aspect of our business,\u201d Porter said. \u201cThe obvious synergy created by combining the firms\u2019 formidable talent and experience in tenant representation was a compelling driver to consummate this deal.\u201d<\/p>\n<p>Both Travers Realty and Cresa provide their clients services in commercial lease and purchase transactions, including project management, lease administration, capital markets advisory work, site selection, and corporate portfolio management.\u00a0Collectively, the two firms have been involved in some of the largest lease transactions in Southern California history.<\/p>\n<p>According to Porter, Cresa is the largest tenant representation and corporate services specialist in North America, and has grown by 10 to 20 percent each year for the past 21 years.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Travers Realty Corp. has merged with the Southern California offices of Boston-based Cresa to form a powerhouse tenant representation firm with nearly 150 local employees and more than 1,000 internationally.<\/p>\n","protected":false},"author":451,"featured_media":1004106261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21781,1594,21742],"tags":[],"class_list":["post-1004106256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-corporate-real-estate","category-los-angeles","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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