Cushman & Wakefield plc

Cushman & Wakefield Announces Sale of 225 W. Wacker in Chicago to Prime Finance and Hines

Cushman & Wakefield advised Spear Street Capital on the $115 million sale of 225 W. Wacker Drive, a 31-story, ~651,000-square-foot Class A office tower in downtown Chicago, to Prime Finance and Hines. CWK will remain an anchor tenant under the new ownership and is expected to be retained for property management and agency leasing, extending its revenue from the asset. The firm's teams also advised Prime Finance on sourcing acquisition financing, making this a multi-line transaction for CWK, though it is routine business for a firm with $10.3 billion in annual revenue.

•3d ago

Cushman & Wakefield Reports Financial Results for the Third Quarter 2026

Cushman & Wakefield reported Q3 2026 revenue of $2.8 billion, up 8% YoY, with diluted EPS flat at $0.22 but Adjusted EPS up 28% to $0.37. Leasing revenue rose 15% and Capital markets 18%, led by 24% Americas capital markets growth and continued strength in office, industrial, and data-center leasing; Adjusted EBITDA grew 15% to $183.7 million and the company maintained full-year Adjusted EPS growth guidance of 18%-23%. The balance sheet continues to improve: $800 million of debt paydowns since 2024, net debt of $2.1 billion, and the October 21 redemption of the remaining $150.0 million of 2028 Notes leaves no long-term debt maturing before 2030.

•4d ago

Cushman & Wakefield Expands Southwest Data Center Platform with Returning Industry Veteran Mark Bauer and Team

Cushman & Wakefield hired a data center advisory team led by Executive Vice Chairman Mark Bauer, joining the Phoenix office to expand the firm's Southwest data center platform. Bauer, who launched the firm's original Southwest data center practice in the late 1990s and later built CBRE's platform before JLL, has negotiated more than $12 billion in transaction consideration over a 28-year career. The hire deepens CWK's capabilities in a key growth area as data center demand driven by power availability and energy generation intensifies.

•10d ago

Cushman & Wakefield Arranges $130 Million Sale of Seasons of Traverse Mountain in Lehi, Utah

Cushman & Wakefield arranged the $130 million sale of Seasons of Traverse Mountain, a 440-unit apartment community in Lehi, Utah, representing seller Mountain States Properties. The deal is the largest widely marketed multifamily transaction on record in Utah County and attracted nearly 30 offers, with Weidner Apartment Homes as buyer. The announcement highlights the strength of CWK's capital markets franchise, though it is routine deal-flow news relative to the firm's $10.3B annual revenue base.

•12d ago

Cushman & Wakefield Completes Redemption of 2028 Notes, Bringing Total Debt Repayments to More Than $800 Million Since 2024

Cushman & Wakefield redeemed the remaining $150 million of its 6.75% Senior Secured Notes due May 2028, fully retiring the issue. Total debt repayments since 2024 now exceed $800 million, with more than $300 million repaid this year alone, leaving no maturities until 2030. CEO Michelle MacKay cited the lowest borrowing margin on its term loan since going public, swaps bringing roughly 80% of debt to fixed-rate, and recent credit rating upgrades from S&P and Moody's.

•18d ago

Cushman & Wakefield Hires Doug Middleton to Lead Institutional Capital Markets Team in New York City, Joined by Jack Stillwagon

Cushman & Wakefield hired Doug Middleton and Jack Stillwagon from CBRE to lead its Institutional Capital Markets business in New York City. Middleton joins as Executive Vice Chairman after eight years leading CBRE's Investment Properties Institutional Group in New York, with recent deals including the $510 million sale of 1334 York Avenue. The hires are aimed at strengthening the firm's NYC capital markets franchise and connecting regional clients to its national platform.

•24d ago

Cushman & Wakefield: U.S. Office Recovery Takes Hold as Sublease Space Shrinks and New Construction Hits Multi-Decade Low

Cushman & Wakefield's Q3 2026 U.S. Office MarketBeat shows national office vacancy at 19.8%, down 25 bps year-over-year, the third straight quarter of improvement. Positive net absorption extended to five consecutive quarters, sublease inventory fell to 89 msf — the lowest since Q4 2020 and 33% below its Q1 2024 peak — and just 7.1 msf of new office was delivered year-to-date, roughly one-fifth the historical average. The recovery is uneven: top-tier vacancy is down 215 bps over two years while Class B/C vacancy keeps rising. Improving fundamentals are a soft tailwind for CWK's leasing and capital markets business, though the release contains no company financials.

•26d ago

Cushman & Wakefield Receives Credit Rating Upgrade to ‘BB’ from S&P Global Ratings, Outlook Stable

S&P Global Ratings upgraded Cushman & Wakefield's issuer credit rating to BB from BB- with a stable outlook. The upgrade follows Moody's Ratings' upgrade of the company's corporate family rating to Ba3 from B1 on September 28, 2026, making it back-to-back agency upgrades within two weeks. Management framed the moves as validation of balance-sheet improvement and cash generation, which could translate into lower borrowing costs over time.

•1mo ago

Cushman & Wakefield Earns Upgrade to ‘Ba3’ Rating from Moody’s Ratings, Outlook Stable

Moody's Ratings upgraded Cushman & Wakefield's corporate family rating to Ba3 from B1 with a stable outlook, the highest rating the agency has assigned since the company's 2018 IPO. CEO Michelle MacKay said the upgrade reflects free cash flow improvement, leverage reduction, and earnings growth, with the company outpacing its 3-year targets presented in December 2025. The firm reported 2025 revenue of $10.3 billion across services, leasing, capital markets, and valuation lines.

•1mo ago

Cushman & Wakefield: U.S. Legal Sector Leasing Hits Record 7.3 Million Square Feet in Q2 2026 as Law Firms Expand Footprints

U.S. legal sector office leasing hit a quarterly record of 7.3 million square feet in Q2 2026, surpassing the previous quarterly high by 23%, according to Cushman & Wakefield's Q2 Legal Sector Leasing Trends Report. First-half legal leasing reached nearly 12.2 million square feet, up 17% year over year, with expansion activity at 43% of leases signed — the highest share since 2019. New York City led all markets with 2.2 million square feet (30% of U.S. legal leasing volume), while Chicago exceeded 890,000 sf in Q2 and its year-to-date total is already 91% above full-year 2025. For Cushman & Wakefield, the record demand is a favorable read-through for its leasing brokerage business — one of its core service lines within $10.3 billion of 2025 revenue — though the release is market research rather than a company financial disclosure.

•1mo ago

Cushman & Wakefield Strengthens Capital Markets Platform with Addition of Loan Restructuring Expert Steve Klein

Cushman & Wakefield appointed Steve Klein as Managing Director and Loan Restructuring Practice Lead to bolster its Equity, Debt & Structured Finance team. Klein brings extensive experience from founding Klein Real Estate Strategies and previous roles at Broadway Partners, JOSS Realty Partners, Brickman, and SL Green Realty Corp. The firm stated that Klein's expertise will help clients navigate the current market by identifying and executing restructuring solutions for distressed and transitional loans.

•2mo ago

Cushman & Wakefield to Lease 1.1 MSF Industrial Facility in Phoenix on behalf of GO Industrial

Cushman & Wakefield secured an exclusive listing assignment for GO Industrial's 1.1 million square foot industrial project, GO 99 North, in Phoenix. The facility, which recently broke ground and is set to deliver in Q2 2027, addresses a shortage of large-scale inventory in the West Valley market. It features 40-foot clear heights, expandable power capacity up to 9,000 amps, and is positioned for logistics and distribution users.

•2mo ago

JVM Realty Acquires 280-Unit Multifamily Community in Oswego, Illinois

JVM Realty acquired the 280-unit Springs at Oswego community in Illinois, rebranding it to Trillium at Oswego, with Cushman & Wakefield acting as the broker. The transaction expands JVM's Illinois portfolio to eight active communities, featuring townhome-style designs and resort-style amenities in the Chicago suburbs. Cushman & Wakefield's Midwest Multifamily Advisory Group facilitated the deal, highlighting the firm's continued activity in the capital markets.

•2mo ago

Drew Morris Joins Cushman & Wakefield as Executive Managing Director in Houston

Cushman & Wakefield appointed Drew Morris as Executive Managing Director in its Houston office tenant representation group. Morris brings nearly 30 years of experience to the role, having closed more than 500 transactions across 11 million square feet of commercial space in Texas. He joins from Savills and has previously served as President of the Houston Office Leasing Brokers Association.

•2mo ago

Cushman & Wakefield: AI Infrastructure Boom Fuels Growing Wave of Industrial Demand Beyond the Data Center

Cushman & Wakefield released a report detailing how AI infrastructure is driving industrial real estate demand, finding that data center-related companies accounted for 14.4% of industrial leasing in six major U.S. markets in 2025, up 44% from the prior year. The analysis estimates that this ecosystem supported 33,000 to 50,000 initial industrial jobs between 2022 and 2025, creating a multiplier effect that generated $11.6 billion in annual gross economic output. The firm notes that every 100 megawatts of new data center development is associated with roughly 365,000 square feet of industrial leasing and $344 million in economic output.

•2mo ago

Cushman & Wakefield Reports Financial Results for the Second Quarter 2026

Cushman & Wakefield delivered Q2 revenue of $2.8 billion, an 11% year-over-year increase, fueled by robust leasing growth of 27% and an 8% increase in services revenue. Management raised full-year 2026 Adjusted EPS growth guidance to 18%-23%, up from the previous range of 15%-20%, citing record quarterly revenues and the lowest gross debt balance in company history. The company strengthened its balance sheet by amending its credit agreement to lower interest rates and extend maturities to 2033, using proceeds to redeem $450 million of senior secured notes.

•3mo ago

Cushman & Wakefield’s Industrial Advisory Group Expands Northern California Industrial Capital Markets Team with Addition of Melinda Marino

Cushman & Wakefield expanded its National Industrial Advisory Group-West by hiring Melinda Marino as a Managing Director based in Northern California. Marino joins the firm from competitor JLL, where she advised on industrial real estate assets, and will collaborate with the existing Southern California team. The hire is part of a strategic push to enhance local expertise and execution capabilities in the Northern California industrial sector.

•3mo ago

Cushman & Wakefield Arranges $95.74 Million in Financing for 626-Unit Texas Multifamily Portfolio

Cushman & Wakefield arranged $95.74 million in total financing for a 626-unit multifamily portfolio in Texas on behalf of borrower Sundance Bay. The financing package consists of $76.24 million in senior debt from Benefit Street Partners and a $19.5 million mezzanine loan from CCL Capital. The portfolio includes Grove East in Humble and Rowlett Station in Rowlett, both Class A properties built in 2021 with occupancy rates of 93% and 92% respectively.

•3mo ago

Cushman & Wakefield Market Report: Modest New Supply and Intensifying Demand Push Industrial Vacancy Back Below 7%

Cushman & Wakefield reports the U.S. industrial vacancy rate fell to 6.9% in Q2 2026, driven by net absorption of 62.1 million square feet and tightening supply. Leasing activity reached 193.4 msf, the highest quarterly total since mid-2022, while new deliveries remained constrained at 62 msf, marking a 20% decline from the prior year's first half. The firm expects industrial fundamentals to continue improving through the second half of the year as disciplined development supports demand for modern logistics facilities.

•3mo ago

Cushman & Wakefield Welcomes Senior Valuation & Advisory Leaders Chris Sonne, Greg Becker, and Chris Lassiter Back to Firm

Cushman & Wakefield announced the return of three Executive Directors—Chris Sonne, Greg Becker, and Chris Lassiter—to its Valuation & Advisory platform to bolster operations in Southern California and the Southeast. Sonne returns from Newmark to lead the national self-storage practice, while Becker rejoins from Colliers to handle complex industrial and retail assets; Lassiter returns from Apprise by Walker & Dunlop to lead the Tennessee region focusing on multifamily. The firm reported 2025 revenue of $10.3 billion and employs approximately 53,000 people globally across over 350 offices.

•3mo ago

Cushman & Wakefield: U.S. Office Recovery Broadens as Vacancy Declines Across More Than Half of U.S. Markets

Cushman & Wakefield's Q2 2026 U.S. Office Marketbeat indicates a broadening recovery, with national vacancy declining 10 basis points year-over-year to 20.1% and four-quarter rolling absorption reaching 14.3 million square feet. Improving fundamentals extended to more than half of the 92 markets tracked, while vacant sublease space fell 15.4% year-over-year to 95.6 million square feet, signaling tightening supply. New office supply remains historically constrained, with the construction pipeline totaling just 19.7 million square feet and total inventory contracting by 0.6% over the past five quarters.

•3mo ago

Cushman & Wakefield Closes $460 Million Sale of G-Tower in Korea

Cushman & Wakefield's Corporate Tailored Solution team in Korea successfully closed the sale of G-Tower in Seoul, a transaction valued at approximately $460 million. Spanning 1.8 million square feet, this is the largest office transaction by gross floor area in Korea's commercial real estate market in the first half of 2026. The deal was executed using a proprietary 'One-Channel Integrated Solution' and a sale-and-leaseback structure, showcasing the firm's ability to navigate a tight financing environment.

•4mo ago

Cushman & Wakefield Announces Senior Leadership Appointments to Accelerate Capital Markets Growth in APAC and EMEA

Cushman & Wakefield has appointed Josh Cullen as Head of Capital Markets for Asia Pacific and Gordon Marsden as Head of Global Capital for APAC & EMEA, effective June 1. The strategic moves aim to strengthen relationships with institutional investors and accelerate cross-border capital growth in these key regions. The firm reported revenue of $10.3 billion in 2025 and operates with approximately 53,000 employees across nearly 60 countries.

•4mo ago

Cushman & Wakefield Report Highlights Strong Growth and Tight Supply in U.S. Medical Outpatient Building Sector

Cushman & Wakefield released its 2026 Vital Signs report, highlighting a 71% year-over-year surge in medical outpatient building absorption to 3.8 million square feet in the first quarter. Occupancy across the top 50 U.S. markets reached 92.5%, while construction constraints tightened supply, pushing average rents up 1.9% to $26.64 per square foot. Investment activity accelerated with Q1 sales totaling $1.8 billion, a 36% increase from the prior year, driven by strong investor appetite for healthcare assets with stable income returns.

•4mo ago

Cushman & Wakefield Appoints Stephanie Greene as Chief Sustainability Officer and Global Head of Sustainability Services

Cushman & Wakefield appointed Stephanie Greene as Chief Sustainability Officer and Global Head of Sustainability Services to lead the firm’s global sustainability strategy and consulting platform. Greene joins from competitor CBRE, bringing over two decades of experience in real estate, energy and strategy to her new role. The firm manages approximately 6.5 billion square feet of real estate globally and reported revenue of $10.3 billion in 2025.

•4mo ago

Greystone Provides $20.7 Million Fannie Mae Loan for Multifamily Property in Matteson, Illinois sold by Cushman & Wakefield

Cushman & Wakefield represented the seller in the disposition of The Manors at Brookmere, a 108-unit multifamily community located in Matteson, Illinois. Greystone provided a $20.7 million Fannie Mae loan to finance the acquisition by a joint venture between Ashland Capital and Crest Capital. The financing carries a seven-year fixed-rate term with three years of interest-only payments, supporting the purchase of the build-to-rent property constructed between 2016 and 2018.

•4mo ago

Cushman & Wakefield Report: Tight Supply, Rising Costs And Structural Uncertainty Set To Shift Power Back to Landlords Across Global Logistics Markets

Cushman & Wakefield released its Waypoint 2026 report, forecasting a shift in global logistics markets from tenant-favorable to landlord-favorable conditions by 2029. The analysis of 135 markets shows tenant-favorable conditions dropping from 52% in 2026 to 33% in 2029, driven by tightening vacancy and constrained supply. Global logistics rents are already 36% higher than 2020 levels, with 54% of markets expecting further rental growth over the next three years. The firm reported $10.3 billion in revenue for 2025, underscoring its scale as it positions itself to advise clients through this structural shift.

•5mo ago

Dallas, Texas Ranked No. 1 Primary Data Market in the World as AI Demand, Power Constraints and Regulation Reshape CRE Strategy

Cushman & Wakefield released its 2026 Global Data Center Market Comparison, ranking Dallas as the world’s No. 1 primary data center market for the first time. The report highlights that global capacity under construction reached 31.7 GW in 2025, with the Americas accounting for 80% of worldwide development activity. Power availability remains a critical constraint, with average delivery timelines for new large loads extending to 4.4 years globally, reshaping development strategies toward secondary markets and private generation.

•5mo ago

Cushman & Wakefield Appointed as Valuer of SEGRO’s UK Portfolio

Cushman & Wakefield has been appointed by SEGRO, the UK’s largest REIT, as the valuer for its UK portfolio of modern warehousing, industrial property, data centres, and development land. The portfolio totals more than 27.7 million square feet, including the Slough Trading Estate, and the appointment is based on a five-year contract following a competitive pitch. This win reinforces Cushman & Wakefield’s position in the UK industrial and logistics valuation market, where its team advises on approximately £400 billion of assets annually.

•5mo ago

Cushman & Wakefield Appoints Jonathan O’Regan as Head of West End Capital Markets

Cushman & Wakefield has appointed Jonathan O’Regan as Head of West End Capital Markets, effective Q4 2026. O’Regan, currently a Director at JLL, has a track record of advising on landmark transactions with a deal volume exceeding £5 billion. Richard Womack, the current Head of West End Capital Markets, will transition to the role of Head of Capital & Strategic Partnerships. Chris Bennett, Head of London Offices Capital Markets, highlighted O’Regan's market presence and dealmaking expertise, emphasizing the strategic value of the appointment.

•5mo ago

Cushman & Wakefield Reports Financial Results for the First Quarter 2026

Cushman & Wakefield reported record first-quarter revenue of $2.5 billion, up 11% year-over-year, fueled by 19% growth in Leasing and 9% growth in Services. Adjusted EBITDA increased 16% to $111.3 million, and Adjusted EPS jumped 67% to $0.15, driven by operating leverage and growth across all service lines. GAAP results reflected a net loss of $12.6 million, largely due to a non-cash pension buy-out settlement of $16.6 million and an A/R securitization liability, while liquidity remained strong at $1.6 billion.

•6mo ago

Cushman & Wakefield Hires Tom Maloney as Chair of Occupier Advisory Services

Cushman & Wakefield named Tom Maloney as Chair of Occupier Advisory Services, tasking him with accelerating growth and elevating talent in the division. Maloney joins from competitor JLL with over 35 years of experience, where he served as Executive Vice Chairman and President of Tenant Representation. Reporting to President Matt Chatham, Maloney will focus on enterprise strategy, business development, and mentoring top producers across global markets.

•6mo ago

Cushman & Wakefield and Greystone Close Sale and Financing for Acquisition of Landmark Apartments in Tuscaloosa, Alabama

Cushman & Wakefield, in partnership with Greystone, closed the sale and arranged $28,219,000 in Freddie Mac financing for the acquisition of Landmark Apartments in Tuscaloosa, Alabama. The 264-unit garden-style property, built in 2007, secured financing with a 5-year term, 30-year amortization, and an interest-only period. Cushman & Wakefield served as the exclusive investment sales advisor, capitalizing on the property's proximity to the University of Alabama and local industrial employers.

•6mo ago