2011/2012 Review
DRIVEN
“
We have a global commitment to excellence and we
are continuously improving our service offering to deliver meaningful value to our clients by providing the most creative and innovative services.” Carlo Barel di Sant’Albano Chairman of the Board, CEO of EMEA
CLIENT #1
Cushman & Wakefield is the world’s largest privately held commercial real estate services firm
18.2 percent
Capital Markets revenue growth in 2011 over 2010
38.4 percent
Global Business Consulting growth in 2011 over 2010
18.5 Percent
Corporate Occupier & Investor Services revenue growth in 2011 over 2010
9.5 percent
Valuation & Advisory growth in 2011 over 2010
11.8
percent
Increase in Client-DRIVEn transactions in 2011 over 2010
DRIVEN
“
Our clients today are a direct result of Cushman &
Wakefield’s unwavering reputation for client service,
which was established as our core value 95 years ago.” JOHN C. CUSHMAN III Co-Chairman of the Board
INNOVATION 300 plus
Number of Cushman & Wakefield professionals around the world who are trained LEED Green Associates
1.5 Billion
Square feet of shopping center space tracked in EMEA across 6,600 centers and 34 countries
180
PLUS
43.6
million
Number of global clients gaining portfolio control, cost savings, and transparency by using Cushman & Wakefield’s FUSION platform, a web-portal that provides each client with its own global enterprise homepage to centrally drive communications for all team members
Square feet of LEED-certified space developed globally and an additional 35 million square feet in process
DRIVEN
“Increasingly, firms are turning to our professionals across services and borders to help them evolve to highly efficient operating models that align real estate with business strategy.� Glenn J. Rufrano President & CEO
TALENT 60 243 1,900
14,000
Countries in which Cushman & Wakefield has a market presence
Offices worldwide
New hires around the world in 2011, a 34.4 percent increase over 2010
employees worldwide
Plus
DRIVEN
“
Cushman & Wakefield experienced significant revenue growth in all service lines and world regions, and improved our operating performance for the total company – further evidence that our strategic plan is on track.” MICHAEL J. BARTOLOTTA Executive Vice President & CFO
RESULTS $1.4 Billion
Americas gross revenue in 2011
$435 million
Europe, Middle East, and Africa gross revenue in 2011
$135 million
Asia Pacific gross revenue in 2011
29 PERCENT
$2.0 Billion
Capital Markets global investment sales volume in 2011 increased 14 percent, in part due to our extraordinary gains in Asia Pacific
Gross revenue in 2011, up 13.4 percent over 2010
DRIVEN
12
Leader Messages
Chairman Co-Chairman President & CEO CFO
12 14 16 18
20 44
44 48 52
Trophy Case Studies Regions Americas Asia Pacific EMEA
56
Services
Capital Markets Consulting Corporate Occupier & Investor Services Leasing Valuation & Advisory
56 60 64 68 72
76
Brand in Action
Driving Sustainability Giving Back
76 77
78 79
Governance Global Offices
DRIVEN
CHAIRMAN’S MESSAGE Commitment and Focus
“
...we have continued to invest in talent and also hired over 1,900 employees including an additional 400 in the first quarter of 2012. These hires spanned the globe with an equal proportion in the Americas, Asia Pacific, and Europe.”
Carlo Barel di Sant’Albano Chairman of the Board, CEO of EMEA
12
Last year, I joined Cushman & Wakefield as Chairman of the
We have a global commitment to excellence and we are
Board after serving as CEO of EXOR, the investment company
continuously improving our service offering to deliver
of Italy’s Agnelli family and Cushman & Wakefield’s majority
meaningful value to our clients by providing the most creative
shareholder from 2007. Since that time, I have worked closely
and innovative solutions. Simply put, we are striving to
with Glenn Rufrano and our Management Committee to
distinguish ourselves as the best real estate services firm in
execute the strategic plan approved by the Board of Directors
the world. With 243 offices in 60 countries, our platform is a
in December 2010.
reflection of the global nature of commercial real estate and of our clients. In this new global world, success is based on
I have personally witnessed the commitment to excellence of
seamless coordination across regions and disciplines, backed
the senior leadership, a sentiment that has now permeated
by local expertise and execution. We continue to manage the
throughout the global organization and has led to Cushman &
most high-profile and prestigious assignments for the world’s
Wakefield posting some positive financial results and achieving
most recognized and respected firms.
some important milestones one year into the execution of our long-term strategic plan.
I look with appreciation to our clients for their ongoing trust in Cushman & Wakefield and to our professionals for their
EXOR recognized the global strength of the Cushman &
outstanding effort, perseverance, and service. The next few
Wakefield brand and appreciated our international platform
years will present continued global challenges, but with the hard
with great growth potential. EXOR has been a committed and
work of our Cushman & Wakefield team, we will achieve our
engaged partner in supporting our growth initiatives. These
ambitious objectives.
initiatives include the global alignment of management, building out the global platform to ensure consistent service mix across the world, greater internal discipline to increase the efficiency of operations, and client prioritization. In order to achieve our plan we have continued to invest in talent and also hired over 1,900 employees including an additional 400 in the first quarter of 2012. These hires spanned the globe with an equal proportion in the Americas, Asia Pacific, and Europe.
annualreview.cushwake.com
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CO-CHAIRMAN’S MESSAGE Driving Client Success for 95 Years – and Counting
“
By keeping our eye on what matters, Cushman & Wakefield has maintained a strong reputation for creativity, innovation, and pride that has connected our brand to the world’s highest-profile real estate transactions.”
JOHN C. CUSHMAN III
Co-Chairman of the Board
This year, Cushman & Wakefield marks its 95th year as a
Through 2011 and early 2012, our tradition for providing client-
leading brand in the global commercial real estate industry.
centric service resulted in the completion of landmark leases
Our firm’s longevity and steady growth has at its core a basic
worldwide, including the 1.2 million-square-foot lease for Shell
yet fundamental focus shared by all successful companies –
Oil in Houston, the world’s largest leasing transaction in 2011;
client service. By keeping our eye on what matters, Cushman
the 1.2 million-square-foot lease for Condé Nast at New York’s
& Wakefield has maintained a strong reputation for creativity,
One World Trade Center on behalf of the Port Authority
innovation, and pride that has connected our brand to the
of New York and New Jersey – the largest lease in lower
world’s highest-profile real estate transactions. In addition, in
Manhattan in more than two decades; the 900,000-square-
New York City alone, we ranked “number one” in transaction
foot lease for Nomura in Midtown Manhattan – the largest
volume, executing 38 percent of the 50 largest leases completed
relocation in Midtown since 2004; and the 500,000-square-foot
in 2011.
lease renewal for the BMO Financial Group in Toronto, which
14
triggered an extensive interior redesign and the re-cladding of
These are the types of transactions that have become
an entire office tower.
synonymous with the Cushman & Wakefield brand and many are profiled in our Annual Review. They showcase the talent of
Our Capital Markets group also advanced our reputation for
our professionals worldwide, the rich diversity of assignments,
leading many of the world’s top sales and acquisitions.
and the level of commitment and trust instilled in our firm by
Signature transactions included the acquisition by CPP
the world’s leading investors and corporations. Our clients
Investment Board of a 50-percent interest in CentrO, the
today are a direct result of Cushman & Wakefield’s unwavering
largest shopping center in Germany; the recapitalization of
focus on client service – a core value established 95 years ago.
1633 Broadway, a prime office tower in Manhattan; and the sale of Capital Square, a trophy office tower in Singapore. In Asia Pacific, our Capital Markets professionals broke transaction volume records last year, resulting in number-one positions in Singapore, Shanghai, and Jakarta. Our Corporate Occupier & Investor Services group also demonstrated our high level of trust and respect among the world’s biggest corporate names in 2011, with major wins that increased our investor services portfolio by 250 million square feet and our occupier client portfolio by 56 million square feet. Among many high-profile assignments won in 2011, our leading Valuation & Advisory group completed a development study of New York’s Hudson Yards in support of an infrastructurerelated bond offering and was retained for valuation services on a three-year contract for a renowned investment firm in Switzerland, a 19-asset hospital portfolio valuation in India, and a major retail mall in Chengdu, China.
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President & Ceo’s message DrivEN
“
The confluence of technology, economic volatility, and the diverse desires of multinational firms continue to change priorities, and how owners and occupiers view real estate’s value.”
Glenn J. Rufrano President & CEO
16
Throughout 2011, with the full support of our majority
we deliver meaningful value to our clients by providing the most
shareholder, EXOR, Cushman & Wakefield moved aggressively
creative and innovative solutions available. Simply put, we are
to implement the initiatives of our long-term strategic
striving to distinguish ourselves as the best real estate services
plan, which positioned us to lead the way in a time of
firm in the world.
transformational change for real estate. As a result, and despite a challenging fourth quarter for our industry, we finished 2011
With 243 offices in 60 countries, our platform is a reflection
with a strong performance.
of the global nature of commercial real estate and of our clients. In this new global world, success is based on the seamless
The confluence of technology, economic volatility, and the
coordination of services across regions and disciplines, backed
diverse desires of multinational firms continue to change
by local expertise and execution. Given such complexities,
priorities, and how owners and occupiers view real estate’s
we are privileged to manage the most high-profile and
value. As evidenced by the 18.5 percent revenue increase
prestigious assignments for the world’s most well-known and
realized by our Corporate Occupier & Investor Services group
respected firms.
in 2011, our intensified focus on delivering advanced solutions that reach beyond the traditional transaction was accurately
While there is caution regarding the global economy, our
targeted. Increasingly, firms are turning to our professionals
clients have decisions to make. Fundamentals and economic
across services and borders to help them evolve to highly
conditions will improve, and the global property markets – and
efficient operating models that align real estate with
our performance – will continue to strengthen.
business strategy. I thank our clients and our worldwide professionals for Our five-year plan, implemented in 2011, set Cushman &
helping to place Cushman & Wakefield in a terrific position to
Wakefield on a course to achieve growth by strengthening our
achieve our vision – to be the world’s preferred real estate
ability to respond quickly to our clients’ shifting requirements,
firm, providing the most creative and innovative services on a
and our 2011 performance shows we are on the right track.
consistent basis, to drive meaningful value to our clients, and to
We are continuously improving our service offerings to ensure
be the best at what we do.
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CFO’s Message Strategic Plan Drives Continued Growth
It is my pleasure to be writing this annual message as Cushman & Wakefield’s new CFO appointed in March 2012. By way of introduction, I have had a long association with our parent company, EXOR, and was deeply involved in its acquisition of a majority stake in Cushman & Wakefield in 2007. For the last five years, I have been a member of Cushman & Wakefield’s Board of Directors and served as Chairman of the Audit Committee, and thus I have familiarity with our strategic growth plan, organizational structure, culture, operations, and priorities. This has certainly eased the transition into my new role. With that introduction, let me begin my 2011 overview by saying that Cushman & Wakefield experienced significant revenue growth in all service lines and world regions, and improved our operating performance for the total company – further evidence that our strategic plan is on track.
MICHAEL J. BARTOLOTTA
Executive Vice President & CFO
Revenue (billions GrossGross Revenue Gross (billions Revenue of (billions $)of $)of $) Americas Asia Pacific Americas Asia Pacific Americas EMEAEMEAEMEA Asia Pacific
Number of Transactions (thousands) Transactions: Square Feet (billions) Number of Number Transactions of Transactions (thousands) (thousands) Transactions: Transactions: TotalTotal Square Total Feet Square (billions) Feet (billions) Americas Asia Pacific Americas Americas EMEAEMEAEMEA Asia Pacific Asia Pacific
Americas Asia Pacific Americas Americas EMEAEMEAEMEA Asia Pacific Asia Pacific
$2.5 $2.5 $2.5
35.0 35.0 35.0
1.0 1.0 1.0
$2.0 $2.0 $2.0
28.0 28.0 28.0
0.8 0.8 0.8
$1.5 $1.5 $1.5
21.0 21.0 21.0
0.6 0.6 0.6
$1.0 $1.0 $1.0
14.0 14.0 14.0
0.4 0.4 0.4
$0.5 $0.5 $0.5
7.0 7.0 7.0
0.2 0.2 0.2
0.0 0.0 0.0 $0.0 $0.0 $0.0 0.0 0.0 0.0 2007 2008 2009 2010 2011 2011 2006 2007 2008 2009 2010 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 2011 2006 2006 2007 2008 2009 2010 2011 2011 2006 2006 2006 2007 2008 2009 2010 2006 2006 2007 2008 2009 2010 2011 2007 2006 2008 2007 2009 2008 2010 2009 2011 2010
of Transactions (billions ValueValue of Transactions Value of Transactions (billions of (billions $)of $)of $) 18
Americas Asia Pacific Americas EMEAEMEAEMEA Asia Pacific Americas Asia Pacific
Square Feet Managed (billions) TotalTotal Square Total Feet Square Managed Feet Managed (billions) (billions) Americas Asia Pacific Americas Americas EMEAEMEAEMEA Asia Pacific Asia Pacific
For the full calendar year 2011, our gross revenue reached
With the year-over-year improvements in revenue, operating
$2.0 billion, an increase of 13.4 percent over 2010. As top-
expense management, EBITDA, and interest expense, our
line performance continued to improve, the bottom line was
earnings before income taxes increased 173 percent to reach
enhanced by the company’s continuing focus on maintaining
$50.5 million for 2011, as compared with $18.5 million in 2010.
strong financial discipline and operating efficiency. Once again, every region and service line achieved yearThis combination of strong revenue growth and more efficient
over-year gross revenue growth. Looking at each service line
operations resulted in our EBITDA (earnings before interest,
individually, growth came from increases in Capital Markets of
taxes, depreciation, and amortization) results improving by
$33.9 million, or 18.2 percent; Corporate Occupier &
Investor Services Transactions: of $115.1 million, or 18.5 percent; Global $18.3 to(billions $111.1 million for 2011, as compared with Gross Revenue (billions Number of Transactions (thousands) Transactions: Square Feet (billions) Grossmillion, Revenue of $) of $) Number of Transactions (thousands) Total Total Square Feet (billions) Business ConsultingAmericas of $6.1 million, orEMEA 38.4Asia percent; Leasing of $92.8 million forEMEA 2010EMEA (on an EBITDA Americas Asiabasis), Pacific while our Americas EMEA EMEA Asia Asia Pacific Americas Asia Pacific Americas AsiaIFRS Pacific Americas Pacific EMEA Pacific margin increased from 6.6 percent in 2010 to 7.1 percent
$66.5 million, or 8.5 percent; and Valuation & Advisory of
in 2011.
$14.8 million, or 9.5 percent.
$2.5 $2.5
35.0 35.0
$2.0 $2.0
28.0 28.0
1.0
1.0
0.8
0.8
This performance and operating efficiency, as well as the
On a regional basis, gross revenue in the Americas region
$1.5 $1.5 company’s
0.6 0.6 while totaled $1.4 billion, gross revenue in the Europe, Middle
debt refinancing at lower
interest 21.0 rates,21.0 led
to
strong cash flow and continued low debt levels, as reflected
East, and Africa, and Asia Pacific regions totaled $435 million
in the company’s year-end net debt, which took our net debt
and $135 million, respectively.
$1.0 $1.0
14.0 14.0
position from $58.9 million (principally debt in excess of cash $0.5 7.0 $0.5
7.0
0.4
0.4
0.2
0.2
to $4.2 million). 0.0 0.0 $0.0 $0.0 0.0 0.0 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011
of Transactions (billions ValueValue of Transactions (billions of $) of $)
Square Feet Managed (billions) Total Total Square Feet Managed (billions) Americas EMEA EMEA Asia Pacific Asia Pacific Americas
Americas EMEA EMEA Asia Pacific Asia Pacific Americas $150 $150
1.0
1.0
$120 $120
0.8
0.8
$90 $90
0.6
0.6
$60 $60
0.4
0.4
$30 $30
0.2
0.2
$0
$0 0.0 0.0 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011 2006 2006 2007 2007 2008 2008 2009 2009 2010 2010 2011 2011
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Trophy Case Study
Shell Oil Company Houston, Texas
World’s Largest Office Lease in 2011 “Tim Relyea, Joe Peddie, and the analytical team at C&W worked methodically over three years to ensure that the solution we landed met our business needs and maximized our flexibility. It was handled in an extremely professional manner, working almost around the clock from the beginning of the deal through final documentation.” JERI A. BALLARD Vice President, Strategy & Portfolio Real Estate, Shell Oil Company
Property
services
One and Two Shell Plaza
Business Consulting Office Platform Solutions
Transaction
Leasing Tenant Representation Strategy Development Site Selection Strategies Cost of Occupancy Analysis Negotiations
1.2 million square feet 15-year office lease
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Trophy Case Study
MetLife & Gazeley UK Rugeley, Staffordshire, UK
C&W Drives Largest UK Speculative Letting in 2011 Our industrial brokerage team presented a market overview to MetLife’s UK investment team, which had invested with Gazeley UK in a number of speculative buildings, the largest being G Park, Rugeley, which had remained unlet for 18 months. Thanks to our team’s marketing focus on e-commerce retail occupiers, terms were agreed upon with Amazon UK within six months. This resulted in the UK’s largest speculative letting in 2011.
Property
services
G Park, Rugeley
Leasing Industrial Brokerage
Transaction Speculatively constructed building extended to 700,000 square feet
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Trophy Case Study
MEAG Pacific Star Asset Management Singapore
Largest Brokered Asset Sale in Asia in 2011 Capital Square, an iconic Grade A office building in Singapore’s Raffles Place, was the largest core asset listed for sale in Asia Pacific in the first quarter of 2011. Cushman & Wakefield’s Singapore Capital Markets team executed the transaction according to the agreed plan, and well within target timelines. At a value of $700 million, Capital Square was the largest single-asset brokered transaction in Asia during 2011, and was completed in a record time frame of 11 weeks. The sales price exceeded vendor’s internal estimates.
Property
services
Capital Square (office & mixed-use development)
Capital Markets Investment Sales & Acquisitions Single Asset & Portfolio Transactions Market Research & Financial Analysis
Transaction 386,525 square feet $700 million sale value
annualreview.cushwake.com
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Trophy Case Study
The Port Authority of NY & NJ/ The Durst Organization New York, New York One World Trade Center Landmark Deal Cushman & Wakefield acted as the agency broker for The Port Authority of New York & New Jersey and The Durst Organization to secure a 1.2 million-square-foot lease to Condé Nast at One World Trade Center. Our team cleared formidable obstacles to achieve what seemed improbable just three years earlier – bringing a first-class Midtown tenant to the famous property.
Property
services
One World Trade Center
Leasing Landlord Representation
Transaction
Capital Markets Corporate Finance & Investment Banking
Property: 3 million square feet 1.2 million-square-foot lease to Condé Nast
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Trophy Case Study
Canadian Pension Plan Investment Board Oberhausen, Germany Largest Retail Asset Transaction in Germany The transaction exceeded a total asset volume of $1.7 billion, with CPPIB injecting equity of $355 million to acquire a 50-percent interest in CentrO, making this the largest German single retail asset transaction in recent years.
Property
services
CentrO
Capital Markets Corporate Finance & Investment Banking
Transaction CPPIB acquired 50 percent of CentrO with $355 million equity investment Shopping center sales area approximately 1 million square feet
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Trophy Case Study
Pacific Esplanade, Mapletree Shanghai, China
C&W Leads Benchmark Sales Transaction in Shanghai Due to Cushman & Wakefield’s professional service, dedication, and innovative approach, a successful transaction was negotiated at a value of $360 million. The parties involved were able to meet the investment criteria and the property was sold in an efficient and timely manner. Silver Court’s sale was a benchmark transaction in Shanghai’s real estate market in 2011.
Property
services
Silver Court (office & mixed-use development)
Capital Markets Investment Sales & Acquisitions Single Asset & Portfolio Transactions Market Research & Financial Analysis Advisory & Consulting Services
Transaction 719,727 square feet $360 million sale value
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Trophy Case Study
BMO Financial Group Toronto, Canada
Collaboration Leads to Major Renovation and Lease Renewal The renewal agreement, involving the comprehensive strategic occupancy reorganization of BMO’s 500,000 square feet, came together with a $180-million building renovation. This included the removal of 45,000 panels of Carrera marble on the exterior facade, which were replaced with energy-efficient glazed glass and brushed steel.
Property
services
First Canadian Place
Leasing Tenant Representation
Transaction 500,000-square-foot lease renewal
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Corporate Occupier & Investor Services
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Trophy Case Study
Nomura Securities New York, New York
Largest Midtown Manhattan Leasing Transaction Since 2004 “C&W provided our firm with an integrated team of real estate experts covering business consulting, financial analytics, brokerage, and project management. From engaging with our executives to lease analysis negotiation and build-out, we couldn’t have completed a transaction of this size and complexity without the sort of integrated decision support that C&W provides.” ANTON APPEL Executive Director and Head of Corporate Services, Americas Nomura
Property
services
Worldwide Plaza
Capital Markets Corporate Finance & Investment Banking
Transaction 900,000-square-foot lease
Leasing Tenant Representation
Corporate Occupier & Investor Services Project Management Business Consulting Office Platform Solutions
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Trophy Case Study
Hals-Development Moscow, Russia
Largest Office Lease in Moscow in 2011 Cushman & Wakefield worked through many complexities to negotiate a successful lease for Mail.Ru Group, which will occupy the entire Tower A at the SkyLight Business Center, built by Hals-Development. The new Class A mixed-use complex is strategically located in Moscow’s Central Business District.
Property
services
SkyLight Business Center
Leasing Landlord Representation Tenant Representation
Transaction 322,185 square feet of office space in a new building under construction
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Trophy Case Study
Paramount Group, Inc. New York, New York
Largest Single-Asset Transaction by Value in Manhattan in 2011 1633 Broadway has had an enduring history as one of the most significant office properties in Midtown West. Our team employed intense senior-level focus in marketing the opportunity to the most significant domestic and international investors. A joint venture was arranged between an affiliate of Beacon Capital Partners and Paramount Group Real Estate Fund IV for the acquisition of the 49-percent interest, and an affiliate of SL Green Realty Corp. provided preferred equity to the venture.
Property
services
1633 Broadway
Capital Markets Equity, Debt & Structured Finance Investment Sales & Acquisitions
Transaction 2.5 million-square-foot property recapitalization
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Trophy Case Study
SEB Immoinvest Abruzzo, Italy
Largest Italian Shopping Mall Investment Transaction in 2011 Despite the challenging economic conditions, Cushman & Wakefield, working in partnership with our client’s dedicated team, succeeded in negotiating and completing the sale of this high-quality regional shopping center. We were pleased to represent SEB ImmoInvest and to welcome ECE Project Management to Italy.
Property
services
Megalò Shopping Center
Capital Markets Investment Sales & Acquisitions
Transaction Approximately 485,000 square feet Sales volume in excess of $184 million
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Trophy Case Study
Ericsson Inc. Plano and Richardson, Texas
Cross-Service Strategic Planning Supports Ericsson’s Dynamic Growth A two-year strategic planning project for Ericsson North America helped the firm address dynamic growth in its Dallas, Texas, portfolio. By engaging a wide range of expertise from within the firm, Cushman & Wakefield developed a staged solution that met our client’s long-term goal of consolidating operations to an existing campus in Plano, while offering flexible options that supported growth projections.
Property
services
2201-2221 Lakeside Blvd.
Capital Markets Market Research and Financial Analysis
Transaction 487,115-square-foot lease consolidation Four locations: 35.4 total acres
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Corporate Occupier & Investor Services Account Management Transaction Management
Business Consulting Office Platform Solutions Leasing Tenant Representation Transaction Consulting Valuation & Advisory Single Asset Appraisal Land Appraisal
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Americas
“
Our momentum is building, as evidenced by the more than 400 professionals we added to the region last year who, along with our established teams, helped drive eight straight quarters of revenue growth.”
JAMES UNDERHILL CEO, Americas
Porsche Cars North America, Inc.
Atlanta, Fulton County, Georgia, U.S. C&W Multi-Disciplined Team Helps Porsche Secure Ideal HQ Facility, Backed by Incentives SERVICES
Business Consulting – Business Incentives Leasing – Transaction Consulting, Tenant Representation
Americas
Asia Pacific
EMEA
G&G Martco, LP (aka ADCO) San Francisco, california, U.S.
Market Knowledge Results in Successful Sale of Convention Plaza SERVICES
NYU Langone Medical Center New York, New York, U.S.
Capital Markets – Investment Sales & Acquisitions Corporate Occupier & Investor Services – Property/Asset Management Leasing – Landlord Representation
C&W Negotiates Long-Term Lease, Securing More Than $225 Million in Savings SERVICES
Capital Markets – Investment Sales & Acquisitions, Corporate Finance & Investment Banking Business Consulting – Office Platform Solutions Leasing – Tenant Representation
Sonae Sierra Brasil São Paulo, Brazil
C&W Assessment Process Establishes Global Standards and Significant Benefits
Freescale Semiconductor (seller) Wentworth Property Company (buyer) Tempe, Arizona, U.S.
C&W Leads Arizona’s Largest Industrial Investment Sale in Three Years SERVICES
Capital Markets – Investment Sales & Acquisitions Corporate Occupier & Investor Services – Account Management, Transaction Management
annualreview.cushwake.com
SERVICES
Capital Markets – Investment Sales & Acquisitions Corporate Occupier & Investor Services – Property/Asset Management Consulting – Retail Consulting Valuation & Advisory – Real Estate Advisory, Valuation for Financial Reporting, Portfolio Valuation, Single Asset Appraisal
45
Illumina, Inc.
San Diego, California, U.S. Complex HQ and Laboratory Relocation and Expansion Completed in Three Months SERVICES
Capital Markets – Corporate Finance & Investment Banking Corporate Occupier & Investor Services – Lease Administration, Project Management Leasing – Tenant Representation, Landlord Representation
Kruger Products L.P.
Vancouver, British Columbia, Canada Largest Build-to-Suit in Western Canada Delivered on Time and Budget SERVICES
Consulting – Industrial Location & Supply Chain Solutions Leasing – Transaction Consulting, Tenant Representation, Landlord Representation Americas
Asia Pacific
EMEA
ACCO Brands
Long Grove, ILlinois, U.S. HQ Relocation Results in Annual Savings Exceeding 40 Percent SERVICES
Corporate Occupier & Investor Services – Property/Asset Management, Agency/Landlord Leasing, Project Management
Seguros Monterrey New York Life Mexico City, Mexico
Strategic Analysis and HQ Relocation Increase Client Profitability SERVICES
Business Consulting – Office Platform Solutions Leasing – Tenant Representation
Columbia Gas of Ohio (A NiSource Inc. Company) Columbus, Ohio, U.S.
Relocation to LEED Building Delivers Over $37 Million in Negotiated Savings SERVICES
Primerica, Inc.
Duluth (Atlanta Metro Area), Georgia, U.S.
Capital Markets – Equity, Debt & Structured Finance, Investment Sales & Acquisitions Corporate Occupier & Investor Services – Project Management, Agency/Landlord Leasing Consulting – Business Incentives Leasing – Transaction Consulting, Tenant Representation Valuation & Advisory – Single Asset Appraisal
Integrated Services Drive Build-to-Suit and New Efficiencies SERVICES
Consulting – Business Incentives Leasing – Tenant Representation, Transaction Consulting
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ASIA PACIFIC
“
Our Capital Markets group had a tremendous year and was involved in landmark transactions resulting in number-one positions for Cushman & Wakefield by deal volume in Singapore, Shanghai, and Jakarta.”
SANJAY VERMA CEO, Asia Pacific
Yanlord Land (Chengdu) Co., Ltd Chengdu, Sichuan Province, China
Acting as Sole Leasing Agent, C&W Achieves 85 Percent Occupancy in Premium Office Tower SERVICES
Leasing – Landlord Representation
Americas
Asia Pacific EMEA
Yahoo!
Seoul, South Korea C&W Executes Consolidation of Two Offices, Including Interior Design Overhaul SERVICES
Corporate Occupier & Investor Services – Project Management
Ascendas Property Fund Trustee Pte. Ltd. (as Trustee Manager of Ascendas India Trust) Bangalore, Chennai, and Hyderabad, India C&W Successfully Values Property Portfolio Listed in Singapore Stock Exchange SERVICES
Valuation & Advisory – Valuation for Financial Reporting
Banyan Tree
Bluestone
Yangshuo, Guangxi Province, China
Sydney, Australia
C&W Innovative Solutions Ensure All Client Targets Are Met on Luxury Hotel Project
C&W Meets Client Expectations by Securing Sub-Tenant in Challenging Market
SERVICES
SERVICES
Corporate Occupier & Investor Services – Project Management
Leasing – Landlord Representation
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MediaTek (Beijing) Inc.
Beijing, Jiuxianqiao, China C&W Advises on 14-Story Office Purchase to Support Consolidation SERVICES
Capital Markets – Investment Sales & Acquisitions
MetLife
LCT PFV
Seoul, South Korea
Haeundae-gu, busan, south korea
C&W Assists Metlife in Achieving Consolidation Objectives
C&W Business Evaluation and Market Research Back Major Mixed-Use Development
SERVICES
SERVICES
Leasing – Tenant Representation
Consulting – Business Incentives, Retail Consulting Valuation & Advisory – Real Estate Advisory, Portfolio Valuation, Single Asset Appraisal
Americas
Asia Pacific EMEA
Royal Group Holdings Pte. Ltd. Singapore
C&W Advises on Record-Setting Sale Transaction for Prime CBD Office Space SERVICES
Capital Markets – Investment Sales & Acquisitions
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EMEA
“
In 2011, EMEA experienced strong growth in most service lines, with double-digit growth in Valuation at 11 percent, CIS at 27 percent, and Leasing by 6.7 percent.”
Carlo Barel di Sant’Albano
CEO, EMEA, AND CHAIRMAN OF THE BOARD
Gruppo Cualbu
Catania, Sicily, Italy C&W Transforms Centro Sicilia into Key Sicilian Shopping Center SERVICES
Corporate Occupier & Investor Services – Property/Asset Management, Agency/ Landlord Leasing Business Consulting – Retail Consulting
Americas
Asia Pacific
EMEA
ProWinko
Brussels, Belgium C&W Secures World-Class Retailers for Premium Toison d’Or Development SERVICES
Consulting – Retail Consulting Leasing – Transaction Consulting, Tenant Representation
Eurofund Investment Zaragoza, Spain
C&W Detailed Planning Meets Financial and Leasing Targets for Puerto Venecia Shopping Center SERVICES
Consulting – Retail Consulting Leasing – Landlord Representation
Vodafone Hungary
Snegiri Development
Budapest, Hungary
Moscow, Russia
C&W Leads Successful HQ Lease Renewal
C&W’s Innovative Solution Leads to Children’s Theme Park in Retail Gallery
SERVICES
Corporate Occupier & Investor Services – Project Management Leasing – Tenant Representation
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SERVICES
Leasing – Landlord Representation
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Sequana
BOULOGNE-BILLANCOURT, PARIS REGION, FRANCE C&W Completes Consolidation of Leading Paper Industry Player – The Market’s Only Transaction Greater than 53,000 Square Feet in 2011 SERVICES
Leasing – Tenant Representation, Landlord Representation
Tesco PLC UK
C&W Delivers 11 Food Store Portfolio Valuation in Tight Time Frame SERVICES
Valuation & Advisory – Portfolio Valuation
Americas
Asia Pacific
EMEA
Wilhelm & Co Liège, Belgium
C&W Leases Over 97 Percent of Médiacité, Belgium’s Third Largest Shopping Center SERVICES
Consulting – Retail Consulting Leasing – Transaction Consulting, Tenant Representation
Expedia
London, UK Innovative Solution Leads to Client Subleasing Existing HQ and Relocating to Support Growth SERVICES
Leasing – Tenant Representation Valuation & Advisory – Portfolio Valuation
Telefonica Germany GmbH & Co. OHG Munich, Germany
C&W Secures BMW AG as a Major Tenant for Munich’s Tallest Office Building SERVICES
Leasing – Tenant Representation, Landlord Representation
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Capital Markets
“
In 2011, our global investment sales volume increased by 29 percent versus 14 percent for the overall market, due to our extraordinary gains in Asia Pacific – up almost five times.”
GREGORY S. VORWALLER
Executive Vice President, Global Head, Capital Markets
Brookfield Brasil Shopping Centers
São Paulo, Minas Gerais, and Rio de Janeiro, Brazil C&W Cross-Border Team Executes Sale of Three Shopping Malls in Brazil SERVICES
Capital Markets – Investment Sales & Acquisitions Valuation & Advisory – Appraisal Review
Capital Markets
Consulting
Corporate Occupier & Investor Services
Leasing
Valuation & Advisory
Buchanan Street Partners & The KOR Group Los Angeles, california, U.S. Sale of Pegasus Apartment Building Among Largest Ever SERVICES
Capital Markets – Investment Sales & Acquisitions
Towne Real Estate/Interstate Partners
Chicago, Illinois, Minneapolis, Minnesota, and Milwaukee, wisconsin, U.S. Central U.S. Portfolio Sale Sets High-Water Mark SERVICES
Capital Markets – Equity, Debt & Structured Finance, Investment Sales & Acquisitions
Capital Markets: Success Driven Highlights
In 2011, our Capital Markets professionals around the world arranged over $43 billion in transactions for clients globally, up 34 percent over the prior year.
Examples of our prowess include the acquisition by CPPIB of a 50-percent interest in CentrO, the largest shopping center in Germany; the recapitalization of 1633 Broadway, a prime office tower in New York; and the sale of Capital Square, a trophy tower in Singapore.
Clients can be assured that our global Capital Markets leadership is focused on working with you to build and grow business, and in meeting your mission-critical priorities.
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Invesco
Jersey City, New Jersey, U.S. C&W Exceeds Expectations for Buyer and Seller Against All Odds SERVICES
Capital Markets – Investment Sales & Acquisitions Leasing – Landlord Representation
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Mitsubishi Estate Company London, UK
C&W Property Acquisition Solution Supports Long-Term Prospects SERVICES
Capital Markets – Investment Sales & Acquisitions Valuation & Advisory – Portfolio Valuation
Capital Markets
Consulting
Corporate Occupier & Investor Services
Leasing
Valuation & Advisory
Encinitas Associates – II Encinitas, California, U.S.
Encinitas Village Shopping Center Disposition Meets Client Goals SERVICES
Capital Markets – Investment Sales & Acquisitions Leasing – Landlord Representation Valuation & Advisory – Valuation for Financial Reporting
Public Utility Company Denver, Colorado, U.S.
C&W Drives $215-Million Sale of 1801 California – Denver’s Largest Office Transaction Since 2007 SERVICES
Capital Markets – Equity, Debt & Structured Finance, Investment Sales & Acquisitions Corporate Occupier & Investor Services – Facilities Management, Account Management, Project Management Leasing – Landlord Representation
Ashford Hospitality Trust
San Francisco, California, U.S. C&W Steers Sale of Landmark JW Marriott San Francisco Union Square SERVICES
Capital Markets – Equity, Debt & Structured Finance, Investment Sales & Acquisitions
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CONSULTING
Increasingly, our clients are seeking our expert direction as they explore their options, target strategies, and make decisions in preparation for continued economic recovery and changed market conditions.
Capital Markets
Consulting
Corporate Occupier & Investor Services
Leasing
Valuation & Advisory
HCL
London, UK
Ford
Madrid, Spain C&W Restructures Lease to Achieve Reduced Costs, Longer Term, and New Concessions
C&W Helps HCL Win Strategic ICT Outsourcing Contract SERVICES
Consulting – Business Consulting
SERVICES
Consulting – Office Platform Solutions Corporate Occupier & Investor Services – Agency/Landlord Leasing Leasing – Tenant Representation
Coca Cola Enterprises Global
C&W Identifies Major Savings Across Global HQ Portfolio SERVICES
Business Consulting – Office Platform Solutions
Consulting: Success Driven Highlights
C&W’s Consulting service line is a significant differentiator for our firm – the critical connecting point for best-practice global solutions.
The demand for our services reflects the immense need for professional, strategic advice as businesses work to position themselves in our rapidly changing world.
Our experienced professionals track critical trends such as industrial supply chain strategies, land development, and project analysis, retail formats, and strategic occupancy solutions.
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VF Corporation
San Francisco, CALIFORNIA, U.S. C&W Manages Successful Green HQ Campus Development for World’s Largest Apparel Company SERVICES
Consulting; Capital Markets – Investment Sales & Acquisitions Corporate Occupier & Investor Services – Project Management Leasing – Tenant Representation
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MULTI Development Czech Republic a.s. Ostrava, Czech Republic
C&W Teams Manage Successful Leasing of New Shopping and Entertainment Center SERVICES
Consulting – Retail Consulting Capital Markets – Investment Sales & Acquisitions Corporate Occupier & Investor Services – Agency/Landlord Leasing Leasing – Landlord Representation Valuation & Advisory – Real Estate Advisory
Mattel Italia Srl Milan, Italy
C&W Negotiates Early Lease Termination and Value-Added Relocation Terms SERVICES
Consulting – Business Consulting Corporate Occupier & Investor Services – Project Management Leasing – Tenant Representation
Capital Markets
Consulting
Corporate Occupier & Investor Services
Leasing
Valuation & Advisory
Ericsson Telecom
Mexico City, Mexico HQ Relocation and Fit-Out into Flexible Office Space Completed in Three Months SERVICES
Prologis, Inc.
new jersey and maryland, U.S. C&W Drives Fast Sale of Leased Industrial Portfolio SERVICES
Business Consulting – World Market Access Capital Markets – Investment Sales & Acquisitions
Consulting – Office Platform Solutions, World Market Access Corporate Occupier & Investor Services – Account Management, Project Management, Transaction Management Leasing – Tenant Representation Valuation & Advisory – Real Estate Advisory
Nokia
Rostelecom
Global
Russia
C&W Global Portfolio Analysis Improves Business and Property Performance
C&W Real Estate Strategy Supports 10,000 Properties in Russia
SERVICES
Business Consulting – World Market Access
SERVICES
Consulting
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CORPORATE OCCUPIER & INVESTOR SERVICES
“
We are now seeing significant gains from our five-year strategic plan implemented in 2011. The plan positioned us to lead the way in a time of transformational change for real estate.”
JOHN C. SANTORA
President & CEO, Corporate Occupier & Investor Services
Adobe Systems Incorporated San Jose, california, U.S.
C&W’s Innovative LEED Build-Out Plan Becomes Cost-Saving Template SERVICES
Corporate Occupier & Investor Services – Facilities Management
Capital Markets
Consulting
Corporate Occupier & Investor Services
Leasing
Valuation & Advisory
Confidential Banking Client New York, New York, U.S.
C&W Proactive Planning Minimizes Hurricane Irene Damage to Three Buildings SERVICES
Corporate Occupier & Investor Services – Facilities Management
Grontmij Europe
C&W Solutions Result in Cost Savings, New Efficiencies, and Tracking Across Global Portfolio SERVICES
Corporate Occupier & Investor Services – Lease Administration, Transaction Management, Account Management Leasing – Tenant Representation
Corporate Occupier & Investor services: SUCCESS DRIVEN HIGHLIGHTS
CIS is increasingly helping our clients evolve to highly efficient operating models that align real estate with business strategy.
The “new” CIS has contributed to an increase of 250 million square feet in our investor services portfolio and 56 million square feet for our occupier clients in 2011.
Avon Cosmetics Ltd Northampton, UK
Our solutions are customized, tailored to specific client needs, and respectful of client cultures. CIS-experienced professionals are the industry’s finest.
C&W Project Manages Consolidation From 11 Facilities into New Sustainable Building SERVICES
Corporate Occupier & Investor Services – Project Management
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Fulwood Empreendimentos Imobiliários Ltda. São Paulo, Brazil
C&W Achieves New Property Management Efficiencies for Over 1.6 Million Square Feet SERVICES
Corporate Occupier & Investor Services
United States Pharmacopeia
Hyderabad, Andhra Pradesh, India C&W Meets Client Business Goals in Managing Development of Major Life Sciences Campus SERVICES
Corporate Occupier & Investor Services – Project Management
Capital Markets
Consulting
Corporate Occupier & Investor Services
Leasing
Valuation & Advisory
Foot Locker Poland
C&W Manages Retailer’s Entry into Poland, Including Fit-Out Services in New Locations SERVICES
Corporate Occupier & Investor Services – Project Management Business Consulting – Retail Consulting Leasing – Tenant Representation
International Fund UK
C&W Secures Tenant for Logistics Complex in Challenging Italian Location
NXP Semiconductors Global C&W Completes 10 Projects Around the World, Delivering Multiple Operational Efficiencies SERVICES
SERVICES
Corporate Occupier & Investor Services – Agency/Landlord Leasing Consulting – Industrial Location & Supply Chain Solutions Leasing – Landlord Representation
Corporate Occupier & Investor Services – Lease Administration, Project Management, Transaction Management, Account Management Consulting Leasing – Tenant Representation Valuation & Advisory – Real Estate Advisory, Single Asset Appraisal
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LEASING
We leverage our strengths locally and globally, putting the best team of professionals forward to ensure our clients receive the full support needed to make the most innovative real estate moves.
AREA Property Partners
Hollywood, California, U.S. C&W Sells Prime Location on World-Famous Sunset Strip to Buyer Known for Transforming Urban Properties SERVICES
Leasing – Landlord Representation Capital Markets – Equity, Debt & Structured Finance, Investment Sales & Acquisitions Valuation & Advisory
Capital Markets
Consulting
Corporate Occupier & Investor Services
Leasing
Valuation & Advisory
Confidential Office Client Ottawa, Ontario, Canada
C&W’s Green Practice Group Negotiates Renewal and Expansion Based on Sustainability Upgrades SERVICES
Trencin Retail Park, a.s.
Leasing – Tenant Representation
Trencin, Slovakia
New Anchor Tenant H&M Secured for Laugaricio Trencin SERVICES
Leasing – Landlord Representation Corporate Occupier & Investor Services – Agency/Landlord Leasing
Leasing: SUCCESS DRIVEN HIGHLIGHTS In 2011, our professionals completed nearly 30,000 leasing transactions globally, valued at $45.5 billion.
We arranged the most significant and high-profile leases signed last year, including the largest transaction in the world – Shell Oil’s 1.2 million-square-foot lease in Houston.
To help our retail clients looking to enter new markets, we globalized our Retail Services leadership structure, appointing a global head of retail and three regional heads.
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Siemens Mexico
Mexico City, Mexico C&W Manages Integrated Fit-Out and Relocation into new LEED Office Space – On Time and Budget SERVICES
Leasing – Tenant Representation Corporate Occupier & Investor Services – Project Management
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Unilever
Barcelona, Spain C&W Cross-Service Team Executes Spain’s Largest Leasing Transaction in 2011 SERVICES
Leasing – Tenant Representation Corporate Occupier & Investor Services – Agency/Landlord Leasing Consulting – Office Platform Solutions
EON Kharadi Infrastructure (Private) Limited (Panchshil Group Company) Pune, Maharashtra, India
C&W Drives Success of One of the “Most Talked About” Special Economic Zones in India SERVICES
Leasing – Landlord Representation Corporate Occupier & Investor Services – Property/Asset Management, Agency/Landlord Leasing
Capital Markets
Consulting
Corporate Occupier & Investor Services
Leasing
Valuation & Advisory
Spinnaker Real Estate Partners & Steven Wise & Associates, LLC Stamford, Connecticut, U.S.
C&W Creative Solutions Support Innovative Re-Use of Mixed-Use Property SERVICES
Leasing – Landlord Representation Valuation & Advisory – Real Estate Advisory
Lotus Originals London, UK
C&W Acquires Global Flagship Store for Luxury Brand on London’s Regent Street SERVICES
Leasing – Tenant Representation
Mead Johnson
Ho Chi Minh City, Vietnam C&W Lease Renewal Results in Savings and Improved Terms SERVICES
Leasing – Tenant Representation
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VALUATION & ADVISORY
“
In markets around the world, our V&A teams are involved in some of the largest portfolio sales, major asset recapitalizations, and new developments.”
BRIAN R. CORCORAN Executive Vice President, Valuation & Advisory
Hudson Yards Infrastructure Corporation New York, New York, U.S.
C&W Delivers Complex Hudson Yards Demand and Development Study SERVICES
Valuation & Advisory – Real Estate Advisory
Capital Markets
Consulting
Corporate Occupier & Investor Services
Leasing
Valuation & Advisory
VastNed Spain
C&W Delivers Expert Valuation of Premium Retail Property Portfolio SERVICES
Valuation & Advisory – Valuation for Financial Reporting, Portfolio Valuation
Zurich Insurance Company Ltd. Global
C&W Global Valuation & Advisory Supports Zurich’s Global Portfolio SERVICES
Valuation & Advisory – Valuation for Financial Reporting, Portfolio Valuation, Single Asset Appraisal
Valuation & Advisory: Success Driven Highlights
Our professionals around the world are driven to provide exceptional results that exceed the needs of our clients globally.
V&A, which plays a leading role in the valuation, appraisal, and analysis of world-class assets, completed over 60,000 appraisals in 2011 valued at over $950 billion.
Metrolinx GO Transit
Toronto, Ontario, Canada We are committed to driving change. It’s about achieving excellence in an area, such as asset-class specialization, and turning a vertical competency into a horizontal way of doing business.
C&W Delivers Framework for Real Estate Revenue Generation SERVICES
Valuation & Advisory – Real Estate Advisory
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Slate Properties and Blackstone LLP Toronto, Ontario, Canada
C&W Values Portfolio for Sale and IPO in Record Time SERVICES
Valuation & Advisory – Portfolio Valuation
Vegagest Immobiliare SGR S.p.A. Milan, Italy
C&W European Valuation Supported by Global Expertise SERVICES
Valuation & Advisory – Fund Valuation
Capital Markets
Consulting
Corporate Occupier & Investor Services
Leasing
Valuation & Advisory
The Northern Trust Company U.S.
C&W Consolidates Appraisal Process for National Lender SERVICES
Valuation & Advisory – Appraisal Review, Appraisal Management Capital Markets – Equity, Debt & Structured Finance Consulting – Office Platform Solutions
Prologis
Mexico City, Monterrey, and Guadalajara, Mexico C&W Advises on 30-Property Industrial Portfolio in Mexico SERVICES
Business Consulting – Industrial Location & Supply Chain Solutions Valuation & Advisory – Appraisal Review, Portfolio Valuation
Gazit-Globe Ltd.
North America and emea
Mirvac Industrial Trust
ILlinois, INdiana, and Wisconsin, U.S. C&W Successfully Completes Valuation Services for 8.2 Million-Square-Foot Industrial Portfolio
C&W Delivers Market Studies for Retail and Healthcare Industries SERVICES
Valuation & Advisory – Real Estate Advisory Consulting – Retail Consulting
SERVICES
Valuation & Advisory – Valuation for Financial Reporting, Portfolio Valuation Capital Markets – Investment Sales & Acquisitions
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Driving Sustainability As a world leader in real estate services, Cushman & Wakefield provides clients with the highest quality and most cost-effective energy and sustainability solutions. This is accomplished by combining best practices, technical expertise, and market knowledge to enhance the overall performance and value of our clients’ assets.
THROWING OUR WEIGHT BEHIND GREEN BUILDINGS Cushman & Wakefield is an active member in Green Building Councils around the world – including the United States, Canada, Mexico, India, and Brazil – leveraging knowledge and relationships to improve the industry and promote green building policies and practices. In 2011, we expanded our Green Building Opportunity Index. In addition to updating the national report, we also produced profile reports for top-ranked cities, providing in-depth analysis into the factors influencing successful green development, such as retrofitting, leasing, and the sale of investment-grade office buildings. Our professionals partner with clients on a wide range of LEED projects for New Construction, Commercial Interiors, and Existing Buildings. Globally, such partnerships have resulted in over 30 million square feet of LEED-certified space. Since 2009, our activities resulted in 150 properties achieving the Energy Star label. OUR GROWING RANKS OF LEED PROFESSIONALS Adding to Cushman & Wakefield’s roster of more than 100 LEED-Accredited Professionals (AP) on staff, over 250 employees around the world have become LEED Green Associates (GA) since 2011 and many are now pursuing the AP credential. This highlights our firm’s drive and commitment to serve clients with the best-available sustainability skills and knowledge across services. LEED COMMERCIAL INTERIORS CONSULTING SERVICES In 2011, Cushman & Wakefield launched its LEED for Design & Construction Consulting Services Platform as a collaborative effort between Sustainability Strategies and Project Management. We offer full consulting services to our clients looking to pursue LEED certifications on their Commercial Interior fit-outs. Services include LEED Feasibility Analysis and Preliminary Scorecards, Sustainable Design Charrette, LEED Program Development, and Project Administration.
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Giving Back Giving back to support communities and those less fortunate is a priority at the heart of our brand, fueling the passion of our people around the world.
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Governance BOARD OF DIRECTORS
Carlo Barel di John C. Cushman III Sant’Albano Chairman of the Board, CEO, EMEA London
Co-Chairman of the Board Los Angeles
Glenn J. Rufrano
Alessandro Nasi
John C. Santora
Shahriar Tadjbakhsh
President & CEO New York
Managing Director, EXOR Italy
President & CEO, Corporate Occupier & Investor Services New York
COO, EXOR Italy
Corporate Departments
CELINE T. CLARKE
Michael J. Bartolotta
JOYCE M. PHILLIPS
GENE BOXER
Executive Managing Director, Corporate Communications, Global Head
Executive Vice President & CFO
Executive Vice President, Global Head of Human Resources
Executive Vice President, Global General Counsel and Secretary
Regions
Services
James Underhill
SANJAY VERMA
Carlo Barel di Sant’Albano
CEO, Americas
CEO, Asia Pacific
Chairman of the Board, CEO, EMEA
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GREGORY S. VORWALLER
JOHN C. SANTORA
BRIAN R. CORCORAN
Executive Vice President, Global Head, Capital Markets
President & CEO, Corporate Occupier & Investor Services
Executive Vice President, Valuation & Advisory
World Headquarters Cushman & Wakefield, Inc. 1290 Avenue of the Americas New York, NY 10104 1-212-841-7500 T CANADA Headquarters Cushman & Wakefield 33 Yonge Street, Suite 1000 Toronto, Ontario M5E 1S9 Canada 1-416-862-0611 T 1-416-359-2613 F MEXICO Headquarters Cushman & Wakefield Mexico Corporativo Arcos Norte B Paseo de los Tamarindos No. 60, 2o.piso Col Bosques de las Lomas Mexico, D.F. 05120 Mexico +5255-8525-8000 T +5255-8525-8091 F SOUTH AMERICA Headquarters Cushman & Wakefield South America Building Berrini 500 Praca Jose Lannes, 40 – 3 fl. São Paulo 04571-100, Brazil +5511-5501-5464 T +5511-5501-5144 F Europe, Middle East, & Africa Headquarters Cushman & Wakefield LLC 43/45 Portman Square London W1A 3BG England +44-20-7935-5000 T +44-20-7152-5360 F
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Florida Asia-Pacific Headquarters Ft. Lauderdale Ft. Myers* Cushman & Wakefield Jacksonville 26/F The Headquarters Building Miami 168 Xizang Zhong Lu Orlando Shanghai 200001, China Palm Beach +8621-2320-0808 T Gardens +8621-2320-0909 F Tampa Georgia Atlanta Savannah* Hawaii Honolulu Illinois Chicago Chicago Suburban Indiana Bloomington* Indianapolis* *Alliance/Associate Offices **Joint Venture Offices If you need assistance in one of these countries, please contact Alisa Zotimova Head of Alliance Program & New Markets, EMEA T +44.20.7152.5136 Alisa.zotimova@eur.cushwake.com
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Brazil Manaus Porto Alegre Recife Rio de Janeiro São Paulo São Paulo-Barueri
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