The terms of the deal have not been disclosed. Company officials would only say that the now-former Strategic staffers had become Studley employees.

"Strategic came to our attention because of its reputation within New Jersey, both as an industrial and office brokerage firm," says Mark A. Jaccom, vice chairman of US operations for the New York-based Studley.

"Originally, I met with one of their partners in a recruiting effort," George Martin, the Studley vice chairman and branch manager who heads the firm's operations in New Jersey, tells GlobeSt.com. "Over time, we determined that we wanted to do something, and he said he'd like to talk to all of his partners. It took four or five months from that point."

"A cultural match like this is rare, and we quickly realized that we could accomplish so much more together than apart," says Martin, whose company is one of the industry's largest tenant rep firms. "Studley gains Strategic's expertise, both local and industrial, and Strategic benefits from our national and international reach."

For Strategic staffers, the event marks a return of sorts to a national operating platform. The company was formed a little over a decade ago when Tom Carragher led several others away from CB Commercial, now CB Richard Ellis, to form what became a formidable player on the boutique level.

"At the time, we felt we could do a better job in our own environment, making our own decisions, rather than at a national firm," Carragher said in an interview with Real Estate New Jersey, GlobeSt.com's sister publication, last year. "We were all tenant rep specialists, and we felt there was a significant conflict of interest in representing both sides of the table."

"The real estate industry is changing so rapidly," says Carragher, who now heads the Studley office here. "Corporations are expecting more comprehensive services, and bringing these professionals to one team not only enhances our ability to meet these challenges, but also permits us handle ever more complex transactions."

The arrangement not only gives Studley more clout in the Garden State, it's also part of an effort to revamp the wider organization. The firm recently formed its Capital Transactions Group, and is set to launch a new Retail Services Group, according to company officials.

Instant Insights /

Studley Absorbs Strategic Alliance Partners

Related Stories

Recommended For You