Cushman & Wakefield of New York has acquired Japan Property Advisors K.K. (JPA), a Tokyo-based commercial property adviser. The move marks C&W's entry into the Japanese commercial real estate market and the continuation of its global expansion plan. As a result of the acquisition, JPA is now officially conducting business as Cushman & Wakefield K.K. Financial terms of the transaction were not disclosed.
John Coppedge, managing director of international operations for Cushman & Wakefield, realizes the unique business environment in Japan. "Things are very different," he says. "For instance, it starts with basic information you need. It's very difficult to obtain because the free flow of information in Japan isn't like it is in the United States."
Cushman & Wakefield has been involved in international relations for nearly 10 years. However, it wasn't until 1998 that the company began to vigorously pursue international ownership. "We really had coverage in all of the major markets, with the exception of Japan," says Coppedge. "Therefore, when the right opportunity arose, Tokyo was a major financial market to be in."