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History |
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Cushman & Wakefield has been a distinguished leader for more than
three quarters of a century.
Cushman & Wakefield was founded as a property management company
in New York City on October 31, 1917. Today it is the world’s
premier real estate services firm. Over the years, the firm has played
an integral role in many of the most significant and prestigious projects
in the world.
The Beginning
The firm was founded by J.Clydesdale Cushman and Bernard Wakefield,
who were brothers-in-law. During its infancy in the early 1920s, Cushman
& Wakefield was the managing and leasing agent for a major New
York City building owner named Anahoma Realty. In 1928, J Clydesdale
Cushman published a brochure called the “First Principals of
Office Renting.” Many of the values outlined in the manual remain
in place at Cushman & Wakefield.
Despite the worldwide economic depression in the 1930s (C&W
Historic Timeline), Cushman & Wakefield continued to grow,
and began to earn its reputation as the premier real estate firm in
New York. The firm became leasing and managing agent for many properties,
including the prestigious 20 Broad Street.
The Building
Boom
The 1940s saw the advent of a new building boom in New York City,
as such new properties as the Corning Building, the Seagram Building
and 20 Broadway created new opportunities. Cushman & Wakefield
dominated the leasing scene, negotiating major transactions for many
Fortune 500 companies.
Perhaps the most prestigious transaction the firm was involved with
during this period was the 1946 land assemblage for what became the
United Nations complex on First Avenue in Manhattan. C&W earned
the Real Estate Board of New York “Deal of the Year”award
for the transaction, one of many REBNY honors the firm has received
over the years.
National Expansion
In the 1960s, 1970s and 1980s, Cushman & Wakefield began to become
a national entity and expanded its services offering to its corporate
and institutional client base. The firm followed its clients across
the country, and opened operations in major cities nationwide. Appraisal
and financial services units were added, and along with the traditional
core businesses of brokerage and property management, this helped
lead Cushman & Wakefield to a new level of industry leadership.
During this period, Cushman & Wakefield played a central role
in the Sears Tower project in Chicago. The firm assembled the site,
acted as project consultant and for many years was leasing and management
agent for the project, then the largest building in the world.
International Expansion
In the 1990’s, while continuing to be the dominant real estate
services firm in the U.S. and in its home base of New York City, Cushman
& Wakefield once again “followed its clients,” this
time around the world.
The firm purchased ownership positions in Cushman & Wakefield
Healey & Baker, a European firm, in 1998, following an eight year
strategic alliance with the firm.
Cushman & Wakefield also established ownership positions in: Cushman
& Wakefield Asia, Cushman & Wakefield/SEMCO in South America,
Cushman & Wakefield GCL in Mexico and a strategic alliance with
Royal LePage of Canada.
One Global Firm
Cushman & Wakefield today is the preeminent real estate services
firm in the world. C&W has
189 offices in 57 countries
around
the globe, and 11,000 talented professionals.
Cushman & Wakefield is involved in every stage of the real estate
process, from strategy to execution.
The firm represents clients in the buying, selling, financing, leasing,
managing and valuing of assets, and provides strategic planning and
research, portfolio analysis, site selection and space location services.
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