Savills Studley Adds Senior-Level Execs

IRVINE, CA—GlobeSt.com has learned exclusively that Savills Studley has hired two senior-level executives in its Orange County office to support the expansion of its advisory-services platform, including an increased emphasis on capital-market transactions and industrial services. Brian Corrigan joins as senior managing director and member of the capital-markets platform, and Andrew Morrow has been named a corporate managing director, joining the firm's industrial-services group.

Corrigan, previously with CBRE Inc., has experience that encompasses real estate finance and sales, mortgage banking and the placement of structured debt, as well as advising public and private real estate operating companies. During his 30-year career in commercial real estate, he has successfully completed more than $5 billion in commercial-property acquisitions, dispositions, financings and capital-markets transactions.

According to Robert Stamm, executive managing director and leader of the firm's US cross-border investments, “Adding Brian's expertise to our existing capital-markets platform is an important strategic move for us. He will work closely with our professionals and add value by sourcing acquisition financing, recapitalizing, refinancing and dispositions on behalf of our clients.”

Morrow, also most recently with CBRE, began his CRE career in 2004 in Orange County. He has worked with industrial, R&D and office users, emphasizing client service and strategic market intelligence. One of his most recent notable transactions was representing Yokohama Tire Corp. for over 1 million square feet of industrial and office space. He was also named to the list of Top 20 CBRE Brokerage Professionals in 2014 in the Orange County region.

Savills, a global real estate firm headquartered in London, and Studley, a New York-based CRE brokerage with 25 offices around the country including the Orange County location, merged last June. Regarding the new hires, Royce Sharf, EVP and manager of the Savills Studley Orange County office, says, “We are pleased to welcome Brian Corrigan and Andrew Morrow to the company, whose background and experience augment our current service offerings and support our strategic vision.” He adds that the firm “will continue to focus on developing the most well-integrated, highest-performance tenant-representative platform worldwide, while advancing our service offerings to best meet the needs of our clients.”  With regard to the merger, Sharf says the firm's “global platform and complementary areas of expertise provide an opportunity for both entities to better serve existing clients and build new client relationships around the world.”

As GlobeSt.com reported exclusively last week, Sharf told us that hesitancy among office users means hiring is not keeping pace with revenue growth, which is decelerating occupancy growth in Orange County. Sharf told us why tenants have been so cautious, the type of space they are seeking and the Orange County office market in general.