Cushman & Wakefield has poached 10 brokers from Savills’ offices in San Jose and Palo Alto.
The commercial real estate company lured the Silicon Valley brokers en masse from Savills, the Silicon Valley Business Journal reported.
All of the brokers who jumped ship work in tenant representation, helping companies seeking to lease new space or renew current deals.
The move represents a major shakeup in the local real estate world, as the defections also represent a huge chunk of Savills’ local staff.
Nine of the 21 Savills brokers that the London-based firm lists as working out of its San Jose branch are joining Cushman, including Mike Mordaunt and Joe Brady, who jointly co-managed the office.
One of seven brokers from Savills’ Palo Alto branch is also heading to Cushman, a commercial real estate firm based in Chicago.
Despite the departures, Savills North America operations in Silicon Valley retains a strong team and “significant business,” said Michael Lassiter, a firm spokesman.
“We wish Joe, Mike and their teams the best in future endeavors and welcome the opportunities this transition brings,” he said.
The other brokers include Savills’ Vice Chair Peter Hamann, Vice Chair Mark Moser, Executive Managing Director Nate Currie, Executive Managing Director Scott Kinder, Executive Director Mike Drew, Senior Director Chris Errecart, Director Johnny Miroyan and Director Spencer Galli.
The brokers all joined Cushman this month, the firm said, and will work out of the firm’s San Jose and Palo Alto offices. They declined to comment about why they made the switch. Cushman did not disclose whether the brokers would bring over their past clients.
[Silicon Valley Business Journal] – Dana Bartholomew
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