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
Managing 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 Vice President, Finance 213.430.2443
Luke T. Calder Advisor 213.430.2450
Cory D. Campbell Senior Vice President 213.430.2468
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 Vice President 213.430.2455
Howard B. Feuerstein Principal 213.430.2448
James L. Fish Principal 213.430.2445
Linda Fregozo Marketing Associate 213.430.2461
James R. Friedrich Advisor 213.430.2449
Segundo Gonzaga Accounting Manager 213.430.2451
Clayton S. Hovivian Principal 213.430.2472
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
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 Accounting Director 213.430.2465
James N. Travers Managing Principal 213.683.1500
Maricela Uribe Marketing Associate 213.430.2462
Sharmini Waco Operations Manager 213.683.1500
Mark Wollman Advisor 213.430.2479

News

Subleases & Sales

Property Available Space Rental Rate
Sale: 17672 Cowan Avenue - Building A
17672 Cowan Avenue
Irvine, CA 92614
16,554 SF
Sublease: Rancho California Business Park
28780 Single Oak Drive
Temecula, CA 92590
3,995 SF (Suites 290/295) Negotiable
Sublease: Olympic Plaza
11500 W. Olympic Boulevard
Los Angeles, CA 90064
4,212 RSF Divisible $2.55 PSF, FSG
Sublease: 801 S. Grand Avenue
801 S. Grand Avenue
Los Angeles, CA 90017
11th Floor, 1 large office; 1 standard office & 4 cubicles $1,600 per mo. large office; $1,000 per mo. standard office; $250 per mo., per cubicle
Sublease: Eighteen Eighty Eight Building
1888 Century Park East
15th Floor
Los Angeles, CA 90067
6,514 SF $4.10 PSF, plus 3% annual increases
Sublease: Standard Oil Building
605 W. Olympic Boulevard
Los Angeles, CA 90015
1st, 2nd & 3rd Floors Negotiable
Sublease: 8383 Wilshire Boulevard - 4th Floor
8383 Wilshire Boulevard
Beverly Hills, CA 90211
1,500 SF ( 4th Floor) $1,500 per month
Sublease: 5670 Wilshire Boulevard
5670 Wilshire Boulevard
Los Angeles, CA 90036
4,821 RSF (17th Floor) $3.75 PSF
Sublease: Colorado Center - 2401 Colorado Avenue
2401 Colorado Avenue
Santa Monica, CA 90404
62,556 RSF (3rd Floor) Divisible Negotiable
Sublease: Olympic Corridor Shared Space
Bundy Olympic Plaza
11900 W. Olympic Boulevard
Los Angeles, CA 90064
Portion of 7th Floor (Suite 720) Office #1 - 14'x12'; Office #2 - 14'x12' $1,200 per office, per mo.
Sublease: PacMutual Sublease - Suite 444
523 W. 6th Street
Los Angeles, CA 90014
3,936 SF (Suite 444) $3.55 PSF, FSG
Sublease: Wilshire Grand
600 Wilshire Boulevard, Suite 303
Los Angeles, CA 90017
4,318 RSF $35.00 FSG with 3% annual escalations
Sublease: 520 S. Grand Avenue
520 S. Grand Avenue, 2nd Floor
Los Angeles, CA 90071
54,787 SF $3.00 PSF, FSG with 3% escalations
Sublease: 5055 Wilshire Boulevard
5055 Wilshire Boulevard
8th Floor
Los Angeles, CA 90036
3,007 SF (8th Floor) $3.06 PSF, FSG
Sublease: 911 S. Hill Street
911 S. Hill Street
2nd Floor
Los Angeles, CA 90015
7,000 SF (2nd Floor) $2.50 PSF, MG
Sublease: Ocean Park Plaza
2701 Ocean Park Boulevard
Santa Monica, CA 90405
1,659 SF (Suite 104 non-contiguous) & 6,740 RSF (Suites 101/133/150) $3.95 PSF, FSG
Sublease: Sunset Doheny West
9255 W. Sunset Boulevard, 10th Floor
West Hollywood, CA 90069
10th Floor (Approx. 180-400 SF) $3,000-$5,000/mo.
Sublease: The Plaza
1800 Century Park East, Suite 500
Los Angeles, CA 90067
3,463 SF (Suite 500) $3.50 PSF, FSG
Sublease: Sherman Plaza
15350 Sherman Way
Van Nuys, CA 91406
12,174 (Suite 350) Negotiable
Sublease: Wilshire Bixel Building
1055 Wilshire Boulevard
Los Angeles 90017
3,083 SF (Suite 1940 - Top Floor) Negotiable

Tenant's Guide

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