Cushman & Wakefield Expands South Florida Presence
- Apr 21, 2016
New York—Cushman & Wakefield has acquired GRV Realty Group LLC (d/b/a Gibson Realty Group), a commercial real estate management firm with a portfolio of more than 4.1 million square feet of office, industrial and flex space in South Florida.
“The addition of Gibson Realty Group has increased our geographic coverage and service line depth in the South Florida market allowing us to more effectively serve a number of our key existing clients,” Marla Maloney, Cushman & Wakefield president, asset services, Americas, told Commercial Property Executive. “By adding Gibson’s team in South Florida we have immediately enhanced our capabilities in the region and throughout the state.”
With the acquisition, Cushman & Wakefield will add 33 professionals to its South Florida ranks, including O. Ford Gibson, Gibson’s founder and principal, who will continue to leverage his 33 years in real estate to expand the firm’s South Florida presence.
“Gibson came to us as an industry-leading firm in South Florida,” Maloney said. “Their experienced team of professionals has an established reputation for service excellence and are fully aligned with Cushman & Wakefield’s promise of delivering a seamless, integrated service delivery model.”
Gibson’s clients include JP Morgan, Prudential, UBS and Codina, and notable managed properties include 1111 Brickell Ave., 8333 Downtown Doral, Centergate at Gratigny, Westside Plaza I-III and 550 Biltmore, all in Miami, and Quiet Waters Business Park in Deerfield Beach.
Gibson’s portfolio of trophy properties is projected to expand to 5.3 million square feet by the end of the year. Cushman & Wakefield already manages nearly 26 million square feet in Florida, and, with the Gibson acquisition, will manage more than 30 million square feet, placing it as the No. 3 property management firm in Florida.
“With the help of great people, we built a company that started from nothing and grew to become one of the Top 10 management firms in South Florida,” Ford Gibson said in a prepared statement. “When approached by Cushman & Wakefield, I saw a unique opportunity to provide our employees with a great place to work and a secure future. Cushman & Wakefield’s vision of being the best at what they do closely matches our philosophy at Gibson, so it is a perfect fit.”