Capstar Commercial Real Estate Services becomes part of Cassidy Turley, will allow Cassidy Turley to expand offerings in Dallas, Houston markets

Cindy Allen

ST. LOUIS , January 17, 2011 (press release) – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that CAPSTAR Commercial Real Estate Services has joined the company. CAPSTAR will be formally known as Cassidy Turley and will transition to the new name by February 15, 2011.

"We are extremely pleased to welcome the CAPSTAR team of over 100 employees. This addition is a key component of our strategic growth plan and allows us to offer our full spectrum of services in two significant markets — Dallas and Houston," said Mark E. Burkhart, CEO of Cassidy Turley. "What attracted us to CAPSTAR was their client-focused approach, leadership position in leasing and managing Class A office properties, and reputation in the market, making them an excellent fit for our culture. We already share several prominent investor clients."

Founded in 2000, CAPSTAR is an established market leader in Dallas and Houston and continues to grow even in the current economic environment. Comprised of five principals who are founding members, its leadership team has worked together from 15 to 24 years. The principals — Bret Bunnett, Johnny Johnson, John Patterson, Trey Smith, and Chris Taylor — will be an immediate complement to the Cassidy Turley leadership team and remain responsible for further developing the company's Texas business. CAPSTAR has a diverse revenue stream from its services — which include leasing, property management, construction management, acquisition support, accounting and reporting, and data center development, management and leasing.

With a management and leasing portfolio comprised of 14.5 million square feet of primarily Class A office space, CAPSTAR completed over 3 million square feet of transactions in 2010 and is consistently rated in the top 10 percent of property managers nationwide by CEL Associates. They also completed 10 of the largest North Texas office leases in 2009 and 2010.

"We are always considering how we can make our business more successful and more sustainable — always with a primary focus on how to better serve our clients," commented Bret Bunnett, President of CAPSTAR. "Joining Cassidy Turley gives us the ability to broaden our geographic reach and to expand our service offerings to clients by leveraging Cassidy Turley's leading capital markets, tenant representation and corporate services platforms. Additionally, we are now able to offer further growth opportunities for our professionals."

About Cassidy Turley

Cassidy Turley is a leading commercial real estate services provider with over 2,800 professionals in 60 offices nationwide. The firm completed transactions valued over $13 billion in 2009, manages over 420 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services — including capital markets, corporate services, project leasing, property management, project and development services, and tenant representation. Outside of North America, Cassidy Turley has served the international needs of its clients since 1985. In 2010, the firm enhanced its global service delivery through its partnership with GVA Grimley. The firm recently ranked in the Top 10 on the Lipsey Co.'s Commercial Real Estate Top Brands Survey, and was ranked #1 by Real Estate Alert for Office Sales in 3 of the Top 6 Markets. Please visit www.cassidyturley.com for more information about the company.

Cassidy Turley's Dallas and Houston operations now include over 100 professionals and staff. The team completed over 3 million square feet of transactions in 2010, has a 14.5 million square foot management and leasing portfolio comprised of primarily Class A office space, and is consistently rated in the top 10 percent of property managers nationwide by CEL Associates.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.