Tenant rep firm Studley Inc. has recruited investment sales brokers Paul Hanafin and Richard Siegel from rival West, Lane & Schlager as the firm seeks to beef up its corporate services platform.
Hanafin and Siegel, who have been named corporate managing directors in Studley Inc.’s D.C. office, will focus on helping clients sell or buy properties. Among their recent accomplishments, the pair represented Joss Realty Partners LLC earlier this year in its $45.5 million sale of 1776 Massachusetts Ave. NW.
Studley Executive Vice President and Co-Regional Manager William Quinby said their addition bolsters the firm’s efforts to increase the range of services it offers to corporate clients.
“Many tenants today own, that’s what they want to do, they want to buy instead of lease,” Quinby said. On the other hand, Quinby noted, other companies are looking to downsize from properties they already own and need help selling, such as the recent news of Intelsat S.A.’s plan to relocate from D.C. to Northern Virginia. “Many tenants have assets that they want to monetize.”
...Studley has other investment sales experts in the D.C. area, including Vernon Knarr, Parker Lange and Jeff Shrago, but Quinby noted they focus more on properties in the District. Siegel and Hanafin come to Studley with a broader focus on the Washington Metro area.