Cush & Wake to Acquire Partner Firms
- Aug 16, 2017
Cushman & Wakefield have entered into an agreement with NorthMarq Cos. to acquire Cushman & Wakefield NorthMarq in Minnesota and Cushman & Wakefield Commerce operations in Nevada, Utah and Washington.
“This is far more than an acquisition — this is the formal merging of a trusted partner in our company,” said Tod Lickerman, chief executive, Americas at Cushman & Wakefield, in prepared remarks.
The leadership teams in all four markets will remain as they are. In total, Cushman & Wakefield NorthMarq and Cushman & Wakefield Commerce have 750 employees and manage 50 million square feet of real estate across 10 offices.
This merger will also have Jeff Eaton, president of NorthMarq Real Estate Services, expanding his role to lead the North Central Region, overseeing Chicago, Minneapolis and Detroit. He led the acquisition of the property management division of Opus Corp., which added 25 million square feet of management to the company, as well as the creation of a joint venture with Cushman & Wakefield in 2011, and the acquisition of Cushman & Wakefield Commerce in 2013.
“We’re always looking to strengthen our platform in growth markets, and this was the perfect opportunity given our long-term partnership with Cushman & Wakefield NorthMarq/Cushman & Wakefield Commerce,” Shawn Mobley, president of Cushman & Wakefield’s East Region, told Commercial Property Executive. “Along with the acquisition of 20VIC in Canada, acquiring NorthMarq and Commerce just accelerates our already considerable momentum and aligns with our goal of providing industry-leading services to our clients anywhere in the world.”
Image courtesy of Cushman & Wakefield