British real estate brokerage Savills is approaching final talks to buy Midtown brokerage Studley.
Savills’ presence in Asia and Europe would help expand the reach of Studley, which does not operate outside of the U.S. Although Studley has offices in Boston, Washington, D.C., and Chicago, it is smaller in scope than its rivals Jones Lang LaSalle, Cushman & Wakefield and CBRE Group. Indeed, Studley works solely with tenants and would continue to do so after a potential merger, unnamed sources said.
One of Studley’s biggest clients is Time Warner, which is in the process of moving its more than 1 million-square-foot headquarters, Crain’s reported. [Crain's] — Mark Maurer