A commercial real estate firm known for its occupier-only representation has bought an Austin-based tenant representation firm.
Chicago-based Cresa acquired Elevate, a firm of 10-12 people.
Elevate’s Scott Studzinski and Logan Dalgleish will lead the new team, which will operate under the Cresa banner, the company announced in a media release. Cresa Managing Principal Karra Guess will also help lead the team.
Elevate’s founder Chris Skyles
Elevate’s founder Chris Skyles departs to focus on development projects and lead AnthemIQ, an Elevate start-up that wasn’t part of the acquisition.
“Elevate is a well-respected firm known for their technology focus, tenant advocacy and client service,” Cresa CEO Tod Lickerman said in the release. “What a natural fit for Cresa as we continue to expand in Texas.”
Cresa, which formed in 1993 as an alliance of five commercial real estate firms that exclusively served tenants and became a company in 1998, partners with tenants to get as much out of a space as possible.
Elevate was founded in 2018 and works with notable clients including Walmart Technology, F45 Training, Sapphire Ventures, Multicoin Capital and Buc-ee’s.
Elevate is the second Texas firm Cresa acquired this year. In March, Cresa took over Dallas-based tenant representation firm esrp, growing its workforce by more than 50 advisors and staff.
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