Cresa, SRS Real Estate Partner on 'Seamless Client Service ...

By Barbra Murray, Contributing Editor

With the recent formation of a new strategic partnership, Cresa and SRS Real Estate Partners have, as Karen Galvin, senior vice president with Cresa, told Commercial Property Executive, put in place a ?piece of the puzzle that had been missing.? That piece is now allowing Cresa?s clients to benefit from SRS?s retail services and providing SRS?s clients access to Cresa?s expertise in the office and industrial markets.

Cresa, the largest firm in the country serving tenants exclusively, is all office and industrial; SRS, the largest national retail real estate company in the U.S., is all retail. The arrangement is a reciprocal one that enables both Cresa and SRS clients to avail themselves of services in an expanded set of sectors, while maintaining a single relationship with their original firm. The two companies are simply capitalizing on the frequent crossover between the office and industrial sectors and the retail sector.??Many retailers, big-box stores, for example, require more than just space in which to sell their wares; they need warehouse accommodations and corporate office space. On the flip side, industrial users can easily find themselves in need of retail space, as can office users on occasion.

However, the clients are not just handed off in the new process. Cresa and SRS?s combined offerings platform is designed to avoid any issues of abandonment or separation anxiety. ?Our method of working with our clients is that they have an account manager at Cresa and that account manager is responsible for delivering whatever needs are required, so if a client had a retail need, our account manager would manage the process by being in touch with SRS and working with their people to deliver the services,? Galvin explained. ?The account manager always stays on board. We work in a very collaborative way with the peer at SRS to deliver the services for the client. We very much remain involved.? And it works the same way for SRS.

The timing of the new establishment of the partnership was just right for both companies. ?Cresa has experienced some dramatic growth over the past two years,? said Galvin. ?We have seen requests from our clients for the ability to help them in retail area. I think the same thing was happening with SRS. They have also expanded a fair amount in the past few years and it seemed like a natural move for both of us.?

Cresa, which promoted chief operating officer Jim Leslie to the CEO position in May, extended its reach to Europe and Asia in January by joining forces with Savills plc, the London-based international real estate advisor, to create SavillsCresa L.L.C.??For its part, SRS expanded its presence over the last two years with the opening of offices in San Antonio, Tex., San Jose, Calif. and Tampa, Fla.

And now comes the broadening of services at the firms. As Chris Maguire, CEO of SRS, noted in a prepared statement, ?This partnership will allow both of our organizations to provide more seamless client service across North America.?

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