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January 21, 2014

Cornish & Carey sale: Silicon Valley real estate executives weigh in

Silicon Valley Business Journal

Nathan Donato-Weinstein

Commercial real estate executives on Tuesday said the sale of Santa Clara-based Cornish & Carey Commercial (first reported here) is another sign of how important the Bay Area has become on the global real estate scene. But they doubt the sale will fundamentally change the Silicon Valley landscape, at least in the short term.

That's because buyer BGC Partners and its Newmark Grubb Knight Frank subsidiary were already partnered up with Cornish, and didn't have competing offices in Cornish's Northern California territory. All of those offices will remain, executives said Tuesday.

Cornish is Silicon Valley's No. 1 brokerage by broker count, according to the Business Journal's most recent Top Commercial Real Estate Firms list. It's followed by Cassidy Turley, Colliers International, CBRE, Kidder Mathews, Marcus & Millichap, JLL, Cresa, Cushman & Wakefield and Meacham/Oppenheimer.

For the full story, go to Silicon Valley Business Journal.

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