Salt Lake City — Savills is continuing its North American expansion with the opening of its first Utah outpost in Salt Lake City. The firm has tapped Bo McNally, who has deep roots in the city and was recently elevated to executive managing director, to serve as office lead with Nick Teseros, a senior managing director who joins the firm from Newmark. The team will specialize in leasing and commercial sales for office and industrial clients.

The Salt Lake City team will leverage Savills unified platform of resources to generate new clients and partnerships. They will support clients across sectors, including industrial, life sciences, healthcare, and professional services users, focusing on Silicon Slopes, a bourgeoning tech-centric community within Salt Lake Valley.

“Salt Lake City is a logical next step for the firm’s expansion goals, especially as Utah continues to be one of the fastest-growing markets in the nation,” says Richard Schuham, vice chairman and director of Savills Northwest Mountain region. “We are looking forward to bringing our best-in-class services and solutions while harnessing our local approach and global insights to address the needs of tenants and space occupiers in the region.”

McNally joined Savills in 2021 following the company’s acquisition of T3 Advisors, the leading real estate workplace solutions advisor to life sciences and technology companies, where he was a partner. He has a track record of representing high-growth technology companies and is an expert in developing effective real estate strategies for clients across the country.

Teseros joins the firm from Newmark, where he was vice president of office leasing and sales and specializes in investment sales and tenant representation. Over his 15 years of industry experience, he has overseen some of the largest build-to-suit and headquarters relocations in Salt Lake Valley for major clients, including Alliance Data Systems, Barrick Gold, Clearlink, and Esurance.

Joining McNally and Teseros is industry veteran Kate North, who began at Savills in January. In her newly appointed role as executive vice president of client experience, North will oversee the firm’s Portfolio Solutions Hub and serve as a single point of contact for brokers and consultants who have multimarket and multiservice pursuit opportunities.  

“It’s no secret that Salt Lake City has become a popular destination for companies to plant their respective flags,” said McNally. “Utah boasts an incredibly strong labor market, and it had the second-largest population growth in the United States in 2021. The market offers substantial, cost-effective space options. There are more than 2 million square feet of new development and construction, providing tenants with an unparalleled opportunity to grow their presence in this region.”

“Utah’s business-friendly climate and access to outdoor recreation has provided a lifestyle that has accelerated the state’s growth not only organically, but from other parts of the country and world,” said Teseros.

In recent months, Savills has continued to position itself as a 360-degree real estate advisor. In addition to acquiring T3 Advisors in June of 2021, the firm recently announced a strategic partnership with SRS Real Estate Partners, supplementing its existing North American retail capabilities and enhancing its tenant advisory services. In addition to recruiting and retaining top talent, the firm has also significantly expanded its capabilities in industrial services, workplace strategy, workforce strategy, site selection, business incentives, project management, and digital services. With its Utah outpost, the firm currently has over 40 offices with more than 900 professionals across North America.

About Savills Inc.
Savills helps organizations find the right solutions that ensure employee success. Sharply skilled and fiercely dedicated, the firm’s integrated teams of consultants and brokers are experts in better real estate. With services in tenant representation, workforce and incentives strategy, workplace strategy and occupant experience, project management, and capital markets, Savills has elevated the potential of workplaces around the corner, and around the world, for 160 years and counting.

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