Cushman & Wakefield Inc.
New York, NY
In a special feature in the April 3, 2006, issue of Fortune magazine, the world’s largest privately held real estate services firm - Cushman & Wakefield Inc., with responsibility for approximately 400 million square feet of commercial property - was named to The Global Outsourcing 100 by the Intl. Association of Outsourcing Professionals (IAOP). That’s no small feat for this industry giant, however. With an uncanny strength in asset management and strategic alliances, Cushman & Wakefield has grown extensively on a global scale (and in profitability), acquiring affiliates in Russia and Canada (the latter being Royal LePage Commercial Inc., which is being rebranded as Cushman & Wakefield LePage). In 2005, the firm negotiated the sale and purchase of $35 billion in commercial property.
To meet its clients’ increasingly complex needs, the firm has introduced a number of new services. Among them is the Cushman & Wakefield Net Lease Trust, a fund that offers sale-leaseback and build-to-suit financing for companies with unrated or less-than-investment-grade credit. Cushman & Wakefield also formed NY Credit Advisors with New York Life Investment Management LLC and HSH Nordbank to underwrite first and second mortgages and mezzanine debt. Additionally, the firm has enhanced service to clients and increased revenue by combining its corporate outsourcing services and asset services units into one group: client solutions.
Cushman & Wakefield is widely recognized for promoting energy management and sustainability practices at its managed properties. In fact, earlier this year, Pacific Gas & Electric Co. (PG&E) honored Cushman & Wakefield and its client Adobe Systems Inc. with an official commendation for the natural resources sustainability initiatives introduced at Adobe’s headquarters in San Jose, CA. The successful implementation of 41 energy-related projects resulted in an annual savings of $1 million from reduced building operating costs, as well as the receipt of $327,000 in incentives from PG&E, the California Public Utilities Commission, and the City of San Jose. The property had already been recognized for its environmentally friendly features, and was one of three (out of 600 surveyed properties in California) to receive the Best Practices Award from Flex Your Power, California’s energy-efficiency marketing and outreach campaign. Look to Cushman & Wakefield’s client-solutions strategies to redefine energy management and sustainability initiatives in the future.