NEW YORK--(BUSINESS WIRE)--Cushman & Wakefield (NYSE: CWK) has recently been named the top investment sales firm in New York by Real Estate Alert, the commercial real estate industry publication that measures investment sales volume and brokerage market share. The #1 ranking marked a significant increase for the firm, up from #4 in 2016.
“Over the past two years, we have put a high priority on becoming the leader in the Capital Markets business in New York,” said Carlo Sant’Albano, Chief Executive, Global Capital Markets & Investor Services of Cushman & Wakefield. “We’ve propelled our firm to a clear number one position in the city through the first half of the year with more than three times the market share of the next firm,” Sant’Albano added.
“This strategic focus and investment required us to change leadership of this New York business in 2016 and reconfigure our approach to clients and service delivery. Unfortunately, the business that was a good home for some of our producers when we were #4, is unable to accommodate those producers going forward. We wish them well,” said Sant’Albano.
Cushman & Wakefield’s New York Institutional Capital Markets team, now led by Doug Harmon and Adam Spies, closed $4.5 billion of office sales as of June 30, 2018, increasing the firm’s sales volume in New York City by 67 percent since year-end 2017. Market share increased from 22 percent at year-end 2017 to 59.2 percent at the end of the first half of 2018. In addition, Cushman & Wakefield remains a committed leader in middle market investment sales. Through the first half of 2018, the firm’s New York “middle market” market share, 22 percent, is the highest it’s been in five years, with a strong presence across all New York boroughs.
Nationally, the firm’s market share for office sales nearly tripled to more than 23 percent with $8.6 billion of sales through 1H 2018, according to Real Estate Alert’s ranking. Across all property types, the increase in market share ranks Cushman & Wakefield #3 nationally through 1H 2018, up from #5 in 2017.
Outside the U.S., Cushman & Wakefield’s Capital Markets business has also been very active this year. In Q1, the firm represented the seller of a multi-billion USD retail portfolio in Hong Kong. In July, Cushman & Wakefield announced the acquisition of Inc RE, a leading investment sales team in Sydney, Australia.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Source: Cushman & Wakefield