Cresa Follows Growing Clients to OC

Occupier needs in both office and industrial are growing in Orange County. Following its growing clients, occupier-service company Cresa has opened a new office in Orange County with Mark Bennett at the helm. Bennett, who will serve as managing director, says that the Orange County region has grown from a small tenant market into an established market that is home to several company headquarters, and it is a place where Cresa needs to be to service those clients.

“Traditionally, Orange County was a relatively small tenant market. Your average space occupier was 3,000 to 3,500 square feet,” Bennett tells GlobeSt.com. “That has clearly changed. Cresa has multiple transactions this year and in 2019 that will exceed 100,000 square feet in Orange County. We are a building market.”

Cresa CEO Jim Underhill underscores the importance of the Orange County market, which Cresa could once serve from its established Los Angeles hub. The recent growth, however, has required a local presence. “We handle a significant amount of business for corporations and organizations that have locations all over the world,” Underhill tells GlobeSt.com. “Orange County is an important market for them in terms of locating offices, and therefore, it is an important market for us. Even without having an office there, we have had significant activity in that marketplace. We have a powerhouse office in L.A., but you can’t service Orange County from Los Angeles, at least not efficiently. It is really client demand that has driven us there, and it is a market that we are very excited to be growing in.”