NEW YORK — Cushman & Wakefield (C & W) has reached an agreement to acquire Los Angeles-based Cushman Realty. Since both companies are privately held, the terms of the transaction were not disclosed. The deal now awaits due diligence by C & W and approval by both companies’ boards.
Cushman Realty has 200 employees, 90 of whom are brokers in 11 offices nationwide. Last year, the company was involved in nearly 2,000 lease and sale transactions, with an aggregate value of approximately $5 billion on 33 million sq. ft.
C & W has 875 brokers nationwide. In 2000, the firm produced $820 million in revenues on 8,845 transactions, with an aggregate sale and lease value of $32 billion on 258.5 million sq. ft. C & W also mangages 307 million sq. ft. worldwide.