Cushman & Wakefield let go of a market leader based in its West Los Angeles office.

Managing Principal Phil Brodkin oversaw the Downtown, West LA, North LA and South Bay areas, according to a release for his August 2021 appointment. Brodkin confirmed his departure to CoStar, which was the first to report the news.

A representative for Cushman did not immediately respond to a request for comment.

A release announcing Brodkin's arrival at Cushman noted his 20 years of industry experience across a variety of services. Before Cushman, Brodkin was at Newmark, where he led the LA region and was a national leader for industrial and logistics services at the firm.

Cushman reported a net loss of $33.9M in the third quarter of this year, putting its losses for the first three quarters of the year at $105.2M.

The company said in its most recent earnings call that it was largely focused on dramatically reducing its leverage. In the call, the company said it was pacing to trim $130M from its budget.