Santa Clara-based Cornish & Carey Commercial, which has real estate brokerage offices in Santa Rosa and Larkspur, is merging its operations with New York-based Newmark Knight Frank.
Cornish & Carey on Sept. 7 will change the names of its 13 Northern California offices to Cornish & Carey Commercial Newmark Knight Frank, said Haden Ongaro, a senior vice president who oversees the two North Bay locations.
Unlike the firm’s other branches, the Larkspur and Santa Rosa offices previously were not part of a national real estate network. But with the merger, Ongaro said, his staff now will be part of an international company “that is very strong.”
The merger will help local owners market their commercial properties around the world, he said. Similarly, the company can help landlords attract tenants from outside the region, and can aid North Bay companies seeking to expand to other locales.
Cornish & Carey opened its two North Bay offices in March. Begun in 1935, the company has 13 offices in Northern California and last year completed $1.8 billion in transactions.
Newmark Knight Frank is one of the world’s largest independent real estate service firms, with 200 offices on six continents. Last year it reported more than $32 billion in transactions and more than $811 million in revenues.
The two firms characterized the merger as an opportunity to connect the regional and global commercial real estate markets.
“Merging our San Francisco operations, including Silicon Valley, significantly strengthens our capabilities in the financial and technology sectors for our global clients, due to the synergistic nature of markets like New York, San Francisco, Hong Kong and London,” said Newmark Knight Frank President James D. Kuhn.
— Robert Digitale