CPS Completes Ownership Merger with Cassidy Turley BT Commercial
which becomes the Largest Commercial Real Estate Firm in the Silicon Valley & Peninsula

April 23 , 2010 -- Santa Clara, Calif. - CPS CORFAC International has completed its planned integration into the recently formed and national real estate company, Cassidy Turley. The announcement to join Cassidy Turley was originally made in mid-January, weeks after NAI BT Commercial joined the new company and rebranded as Cassidy Turley BT Commercial.

Effective immediately and under its new brand, Santa Clara-based CPS will operate as Cassidy Turley CPS. Todd Beatty, former CEO of CPS, is now Executive Vice President and Managing Partner of Cassidy Turley CPS and will report directly to Mike Kamm, CEO of Cassidy Turley BT Commercial.

“We are very pleased to have completed the merger with CPS and to have joined with such an outstanding group of real estate professionals in Silicon Valley. The merger with CPS together with our previously announced partnership with Cassidy Turley nationally makes us a compelling proposition locally and globally. While real estate services are generally delivered locally, they are increasingly becoming part of enterprise and portfolio wide decision making. As a result a broader platform is necessary to succeed in this marketplace, and Cassidy Turley is the solution,” said Mr. Kamm. He added that “while we will be one firm, in order to associate the brand equity of BT Commercial and CPS with Cassidy Turley, we will operate as Cassidy Turley BT Commercial and Cassidy Turley CPS. Additionally our retail professionals will continue to operate under the Terranomics brand which is so well known throughout Northern California and the country.”

Both companies are among the founding firms of Cassidy Turley, a new national firm that immediately became the largest privately-held commercial real estate firm in the U.S. In the Bay Area, the combined Cassidy Turley BT Commercial and Cassidy Turley CPS is now the largest commercial real estate firm in the Silicon Valley and Peninsula markets, according to the 2010 San Jose Business Journal and San Francisco Business Times Book of Lists Rankings based on total agent count. 

“We are a national company and our clients will benefit from our expanded presence on the Peninsula, throughout the region, and on a national and international level,” said Todd Beatty, Executive Vice President and Managing Partner of Cassidy Turley CPS. “The merger with Cassidy Turley BT is especially timely, given the global requirements for Fortune 1000 companies and competition we face in today’s economy,” said Beatty.

Cassidy Turley is a newly formed privately-held commercial real estate firm created when ten private firms, from four different networks joined together: BT Commercial Northern California (formerly the largest affiliate member firm in of NAI); CPS of Santa Clara, CA (formerly a CORFAC affiliate); BRE Commercial San Diego, and BRE Commercial Phoenix (both formerly Grubb & Ellis affiliate member firms); and four former Colliers affiliates – Cassidy & Pinkard (Washington DC and Virginia), Turley Martin Tucker (Mid-west), Pinkard (Baltimore and Carolinas), and ABR (New York City) – all merged in August of 2008 to become one company. With the 2010 rebranding as Cassidy Turley, Colliers Houston & Co. of New Jersey also joined Cassidy Turley. On April 15 th, Colliers Barry of Wisconsin officially joined as Cassidy Turley Barry. On April 23 rd, Harry K. Moore, formerly a member of Colliers International, announced it will transition to Cassidy Turley. Outside of North America, Cassidy Turley partners with GVA Grimley, the founder and majority shareholder of GVA Worldwide. GVA Worldwide is a global service company with over 2,500 real estate professionals operating in over 85 markets.

About Cassidy Turley CPS:
Cassidy Turley CPS is the premier full-service commercial real estate brokerage company in the Silicon Valley. Since it’s founding in 1977, the company has executed complex real estate assignments spanning multiple markets on behalf of owners and users of office, R&D, Telco, Life Science and industrial properties. CPS maintains a roster of 30 brokers in its Santa Clara office and has participated in the development of over five million square feet of buildings, leased or sold over 169 million square feet of office, industrial, and R&D property, and sold over 6,100 acres of land. For more information, visit www.cps-co.com.