Savills Studley, the leading commercial real estate services firm specializing in tenant representation, has bolstered its Industrial Services Group with the acquisition of Memphis-based Sterling Solutions, further strengthening its tenant representation expertise as it grows its professional team to meet client demand across the country.
“Our Industrial Services Group is very important to us, and we would like it to grow dramatically,” said Michael Colacino, president of Savills Studley. “Sterling is a unique, niche business that fits well with our tenant-rep model, and we’re excited to continue to bring the best and the brightest to Savills Studley.”
With offices in Memphis and Cleveland, Sterling Solutions, established in 1998, is an operations management consulting firm specializing in transportation management, distribution and plant network optimization and third party logistics management. Led by David Sterling and Nick Pacitti, the firm is one of the nation’s leading firms in cold chain management. In 2010, the company became the co-founding partner of the Integrated Food Chain Research Center with Georgia Tech’s Supply Chain and Logistics Institute.
“We are thrilled to be joining Savills Studley’s Industrial Services Group. With this new partnership, we will benefit from more opportunities and more clients, and in turn, Savills Studley will gain access to our extensive network in the cold chain management sector,” said Sterling. “Most importantly, we will have global access in helping more clients improve their supply and food chain networks. It’s a win-win, and we look forward to working on many exciting projects and transactions in the near future.”
The expansion of the industrial services group at Savills Studley is part of brand’s strategic North American growth plan. Over the previous 18 months, the firm has established several new offices in growing real estate markets across the United States, including Phoenix, Austin, Minneapolis and Baltimore. In addition, the firm has completed several high-profile acquisitions, highlighted by the purchase of the Cresa Carolinas offices in Charlotte and Durham, North Carolina; Real Facilities in Toronto, a major tenant representation consulting firm in Canada; Cooper Brady Partners in Silicon Valley, the top performing firm in one of the nation’s hottest areas; Tampa-based Vertical Integration, which strengthens the firm’s occupier services and workforce strategy business; and New York-based management consulting firm KLG Advisors, a well-known firm that provides strategic location and workforce advisory services, including portfolio evaluation and realignment, to large corporations.