CHICAGO–Cushman & Wakefield continued to make significant gains in the uber-competitive U.S. commercial investment sales space in 2018, increasing its market share by 32 percent over the previous year according to Real Estate Alert, a top industry publication.
With more than $31.6 billion in deal volume in 2018, Cushman & Wakefield grew its volume by 53 percent and surged to No. 3 on the annual ranking of top brokerages. (The deal volume and market share figures encompass sales of all multifamily, office, industrial, retail and hotel properties valued at $25 million or more.)
Cushman & Wakefield’s rise in the rankings follows years of strategic investment in its Institutional Capital Markets platform, according to Carlo Barel di Sant’Albano, Chief Executive of Cushman & Wakefield’s Global Capital Markets and Investor Services business.
“These rankings reinforce our commitment to clients and to strategically grow our institutional Capital Markets platform throughout the U.S.,” he said. “We experienced great momentum in 2018 and delivered outstanding results for our valued clients. As we continue to make principal investments to augment and strengthen our platform — nationally and globally — we create opportunities to deliver value to our clients as their trusted advisor.”
Among the firm’s key investments was the 2016 strategic recruiting of Doug Harmon and Adam Spies, co-leaders of Cushman & Wakefield’s New York Institutional Capital Markets team, which led the country’s largest office market with a 42 percent market share in 2018. The team closed 23 office deals in that market totaling $6.5 billion during the course of the year, nearly more than its two next-closest competitors combined.
Since 2017, Cushman & Wakefield has also added Capital Markets market-leading professionals in a number of other geographic markets and across various property specialties including Rob Rubano (West Coast); Michael McDonald and Jonathan Napper (Southeast and Texas); Paul Lundstedt and Dan Deuter (Chicago); David Pergola and Brian Doherty (Boston); Susan Tjarksen (Chicago/Midwest); and George Tikijian and Hannah Ott (Midwest).
In January, Cushman & Wakefield announced the hiring of David Pergola and Brian Doherty, both Executive Managing Directors, in Boston.
With over 20 years of experience in real estate, Pergola specializes in New England office, industrial and mixed-use transactions. He was recently an Executive Vice President/Partner at CBRE and previously, Executive Managing Director and Head of Cassidy Turley/DTZ’s Capital Markets group. Prior to joining Cassidy Turley, Pergola led Cushman & Wakefield’s middle market investment sales for New England having transacted more than $5 billion in sales and leasing transactions. He is a veteran of the United States Marine Corps.
Doherty specializes in office, industrial, retail and mixed-use transactions throughout New England. He has transacted more than $3 billion in total sales. Prior to joining Cushman & Wakefield, Doherty was most recently an Executive Vice President/Partner at CBRE after having previously been a Senior Managing Director on Cassidy Turley/DTZ’s Capital Markets team and a Director at Cushman & Wakefield for more than 10 years.