Travers Cresa
550 South Hope Street
Suite 2600
Los Angeles, CA 90071
213.683.1500 tel
213.955.9850 fax
Email
Map/Directions

Contacts

James N. Travers
Founding Principal
Email
213.683.1500 tel
W. Lawson Martin III
Managing Principal
Email
213.430.2456 tel
Dennis E. Smith
Managing Principal
Email
213.430.2463 tel

Los Angeles - Downtown

Travers Realty Merges with Cresa Los Angeles – Creates Powerhouse Tenant Representation Brokerage Firm in Southern California
 

LOS ANGELES, October 27, 2014 – Travers Realty Corporation, the oldest and most established tenant representation firm in Los Angeles, has merged with the Southern California offices of Cresa.

The merger adds 32 brokerage professionals to Cresa’s already strong 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 under the name of Travers Cresa. The newly combined firm will have nearly 150 employees within the region and well over 1000 internationally.

“The outcome of this merger is much greater than the sum of its parts,” said Cresa Managing Principal Gerald A. Porter and one of the firm’s founding principals. “While we have been great competitors, we have always shared the single-minded purpose of being strong advocates for tenants, no matter their size.  The obvious synergy created by combining the firms’ formidable talent and experience in tenant representation was a compelling driver to consummate this deal.”

“This is a merger of companies with similar corporate values, commitment and focus,” said Travers Realty founder James Travers, who becomes Managing Principal and a member of the Cresa Los Angeles Board of Directors.  “Cresa recognized the value of our talented and experienced brokerage team and we saw this as an excellent opportunity to enhance our firm’s already proven ability to service the real estate needs of our clients, on a local, regional and national basis.  The integration of the two talented brokerage teams has been seamless and without question creates an even more formidable tenant advocate.”

Both Travers Realty and Cresa were among the early adopters of exclusive tenant representation in California, spurring the debate over the benefits tenants receive from unbiased representation when compared to the traditional commercial real estate brokerage model.   Recognizing the potential conflict of interest that arises when a traditional firm represents both sides of a real estate transaction, California recently enacted a law requiring brokers to disclose their relationships with both tenant and landlord.  The new law, known as AB 1171, goes into effect in January.

“The commercial real estate brokerage industry tends to favor commercial landlords over tenants, since that’s where the large majority of revenue comes from,” added Travers.   “This new law in California should raise the awareness of the conflicts that exist within many brokerage relationships.”

  • Los Angeles

    Downtown

    Supply
    43,055,200 SF
    Vacancy
    7,926,361 SF
    Absorption
    5,142 SF
    Avg. Lease Rate
    $2.96

Market Insights

People

Michael Bloes Finance 213.430.2443
Luke T. Calder Advisor 213.430.2450
Cory D. Campbell Senior Vice President 213.430.2468
Lalo Diaz Principal 213.430.2449
Christopher W. Downs Principal 213.430.2477
Guy H. Eisner Vice President 213.430.2460
Linda Eng Senior Vice President 213.430.2446
Michael N. Eyler Advisor 213.430.2478
Steven N. Eyler Principal 213.430.2447
Griffin Farriss Advisor 213.430.2455
Howard B. Feuerstein Principal 213.430.2448
James L. Fish Principal 213.430.2445
Linda Fregozo 213.430.2461
James R. Friedrich Advisor 213.430.2459
Segundo Gonzaga Accounting Associate 213.430.2451
Clayton S. Hovivian Principal 213.430.2472
George C. Katunich Principal 213.430.2452
Michael Livingston Administrative Assistant 213.430.2454
W. Lawson Martin III Managing Principal 213.430.2456
Jeffrey Mayfield Director, Consulting Services 310.497.9832
Adam D. Mintz Advisor 213.430.2474
Jeffrey D. Mintz Principal 213.430.2458
Stewart E. Niles Principal 213.430.2473
Randy Plaskoff Advisor 213.430.2464
Brian Ponchak Director, Consulting Services 714.421.9958
Mark D. Rauch Principal 213.430.2469
Daniel J. Shuman Advisor 213.430.2471
Dennis E. Smith Managing Principal 213.430.2463
Erlinda J. Tan Controller 213.430.2465
James N. Travers Founding Principal 213.683.1500
Maricela Uribe 213.430.2462
Sharmini Waco Office Manager 213.683.1500
Mark Wollman Advisor 213.430.2479

News

Subleases & Sales

Property Available Space Rental Rate
Sublease: AON Center - Shared Office Space
707 Wilshire Boulevard, 48th Floor
Los Angeles, CA 90017
48th Floor Negotiable
Sublease: Warner Center Tower 2 - Shared Office Space
21550 Oxnard Street
Woodland Hills, CA 91367
Shared office space - Suite 1010 $900-$1,450/mo.
Sublease: Westlake Park Place - Suite 130
3011 Townsgate Road
Westlake village, CA 91361
Suite 130 consisting of 11,382 rsf (10,326 usf) $2.80/RSF/FSG
Sublease: Rancho California Business Park
28780 Single Oak Drive
Temecula, CA 92590
3,995 SF (Suites 290/295) Negotiable
Sublease: Park Mile Plaza
4801 Wilshire Boulevard
Mezzanine Level
Los Angeles, CA 90010
3,038 SF Negotiable
Sublease: Westlake North Business Park
30721 Russell Ranch Road
Westlake Village, CA 91362
7,182 RSF (Suite 100) $1.85 RSF, FSG
Sublease: Retail/Creative Office Space
1314 2nd Street
Santa Monica, CA 90401
800 SF (Ground Floor) $5.00 Full Service Gross
Sublease: Olympic Plaza
11500 W. Olympic Boulevard
Los Angeles, CA 90064
4,212 RSF (6th Floor) $2.95 PSF, FSG
Sublease: Watt Plaza - North Tower
1875 Century Park East, Suite 2230
Los Angeles, CA 90067
Suite 2230 (140 - 234 SF Individual Offices) Window offices: $1,700-$2,300/mo. Workstations: $350-$450/mo.
Sublease: 801 S. Grand Avenue
801 S. Grand Avenue
Los Angeles, CA 90017
11th Floor, Shared Services - 2 Large Offices $1,800 per mo. office/$250 per mo. cubicle
Sublease: Watt Plaza - North Tower
1875 Century Park East, Suite 1130
Los Angeles, CA 90067
4,877 SF $3.95 PSF, FSG
Sublease: Pacific Financial Center
800 W. 6th Street, Suite 310
Los Angeles, CA 90017
1,496 SF Negotiable
Sublease: PCT
222 N. Sepulveda Boulevard
15th Floor, Suite 1550
El Segundo, CA 90245
9,371 RSF $2.75 PSF, FSG with 3% escalations
Sublease: PCT
222 N. Sepulveda
4th Floor, Suite 425
El Segundo, CA 90245
2,445 RSF $2.75 PSF, FSG with 3% escalations
Sublease: Marina View Office Building
13274 Fiji Way
Marina del Rey, CA 90292
1,329 SF (Suite 140) $4.25 PSF, FSG
Sublease: PacMutual
523 W. 6th Street
Los Angeles, CA 90014
3,000 SF (Suite 633) Negotiable
Sublease: Corporate Center Pasadena
251 S. Lake Avenue
Pasadena, CA 91101
Suite 920 - 2 Offices/2 Secretarial Bays $1,500 per mo. office/$250 per mo. secretarial bay

Tenant's Guide

For the Local Tenant's Guide, please click here.

For the National Tenant's Guide, please click here.