Cresa Acquires Axis Tenant Advisors in Houston


Half a year after Chicago-based commercial real estate firm Cresa more than doubled its Houston presence with the acquisition of Fritsche Anderson Realty Partners, the fast-growing company has scooped up another local firm.

Cresa took over boutique commercial real estate services company Axis Tenant Advisors earlier this month, making its founder and owner, Scot Ison, a principal in Cresa’s Houston office.

Axis had no other employees at the time of the acquisition, Cresa Managing Principal David Anderson told the Houston Business Journal.

“Joining forces with someone as experienced and well respected as Scot is a real game changer,” he said in a statement. “His industry knowledge and tenant-only focus will elevate everything we do, creating tremendous opportunity for success and the delivery of best-in-class solutions to our clients.”

Ison founded Axis in 1993. Notable deals he brokered in recent years include Greystar’s 68,000-square-foot anchor lease that kicked off construction of Towne Centre Two, a 167,141-square-foot office building next to CityCentre and Town & Country Village, in 2022. He also recently represented Tricon in a 23,000-square-foot sublease at 1500 Post Oak Blvd. Ison has served in a variety of leadership positions in the industry and is a former member of the Texas Business Hall of Fame Foundation's board of directors, where he also served as treasurer. He is a past member of the Uptown Houston Broker Advisory Board and former director and treasurer of the Houston Office Leasing Brokers Association, Cresa said.

In a statement, Ison said the two companies’ mission and goals aligned.

“I look forward to using the many services their platform provides to expand the benefits I offer to our clients,” he said. “Collaborating with the talented team in Houston and beyond will be both exciting and rewarding.”

At this time, Axis and Cresa maintain separate offices, with Axis at 777 Post Oak Blvd. and Cresa at 1990 Post Oak Blvd. The goal is to consolidate into one larger office within the next year, Anderson said.

Cresa acquired Fritsche Anderson Realty Partners, one of Houston’s largest privately held commercial brokerage firms focused exclusively on tenants, last June, adding 11 brokers. Anderson and Anthony Fritsche became managing principals and co-market leaders for the Houston office, which previously had nine brokers, Anderson said.

Since that acquisition, Cresa has hired another five brokers, including Ison, for a total of 25. It is actively recruiting more.

The company focuses on occupier services, with an emphasis on representing office and industrial tenants in Houston and nationally.

Cresa has been on a growth spree in recent years, acquiring seven companies within the past two years.

The firm also recently expanded its Dallas footprint via the acquisition of Esrp and is focused on the Austin market, where it has brought on several brokers and is in active recruiting mode.

Additionally, the firm most recently acquired Seattle-based project management company Pacific Program Management for $40 million, Anderson said, and NorthStar Owners Representation in Philadelphia.

Previously, Cresa took over Axiom Advisory Group in Detroit and Vicus Partners in New York City.

Here in Houston, Cresa recently helped negotiate a lease for Dallas-based architecture and design firm Corgan, which moved its Houston office to the Greenway Plaza mixed-use development. Corgan has moved into an 8,729-square-foot space on the 30th floor of 9 Greenway Plaza, one of 10 buildings that make up the 54-acre development.

Cresa and Fritsche Anderson Realty Partners both made the Houston Business Journal's 2023 Largest Houston-Area Commercial Real Estate Brokerages List, based on total local licensed professionals.

Last year, Cresa made the Houston Business Journal’s Best Places to Work List.


Read the full article on The Houston Business Journal.