In China, Cresa has executed a partnership with leading tenant representation firm China Corporate Realty Advisors (CCRA). The new office is located in Beijing and will be led by Managing Principal Philip Wang and Executive Director Reuben Xu. Wang and Xu founded CCRA in 2015 and their team of more than 20 brokers and support staff will transition with them this month.
“This partnership is critical in meeting demand from tenants and occupiers across extended regions in China. The offering of independent, impartial advice is gathering momentum with clients who will benefit from the Cresa global platform,” says Wang. “Our knowledge and experience in Chinese markets, combined with Cresa’s global platform, creates a powerful resource for objective, integrated tenant representation in Asia.”
The Beijing office is an extension of Cresa’s existing regional presence in Hong Kong, and will benefit clients in both markets. Further expansion is planned in Shanghai.
In addition to Beijing, Cresa is extending their territory covered to include New Zealand, opening an office in Auckland. This has come about in response to increasing requests by Cresa’s Australian clients to provide lease management and transaction management services for their operations in New Zealand.
“To accommodate increasing client demand in the region, we are actively pursuing expansion opportunities in Asia Pacific. Beijing is an important market for us as we continue to support our existing clients in Hong Kong and China. We are thrilled to have CCRA as our partner there. Similarly, client demand led us to Auckland, where our Australia offices are supporting a new location that will service clients throughout New Zealand. These new offices fall in line with our rapid global expansion strategy – in the past 3 years, we have opened over 8 new offices outside of North America,” says Cresa CEO Jim Underhill.
Having opened the office in Hong Kong only two years ago, Cresa is solidifying its presence in high-profile real estate markets across Asia Pacific, and executing on its plan of aggressive international expansion. Over the last three years, outside of North America, Cresa has opened offices in the United Kingdom, France, Germany, Belgium, the Netherlands and Poland.
Cresa is the world's largest tenant-only commercial real estate firm. In representing tenants exclusively – no landlords or developers – Cresa provides unbiased, conflict-free advice. Its integrated services cover every aspect of a real estate assignment, including strategic planning, employee demographics, workplace strategy, site selection, incentives negotiation, market research, transaction management, project financing, project management, portfolio management, and relocation services. Cresa offers clients customized solutions worldwide through more than 60 global offices. For more information, visit: www.cresa.com.