With the $2B Cushman & Wakefield/DTZ merger complete, C&W announced its global HQ would shift from New York City to Chicago. C&W has been based in New York since 1915.
The announcement makes Chicago home to two of the three largest commercial real estate brokerages in the world. JLL, the second largest, is HQ'd in Chicago while CBRE, the largest brokerage, hails from LA.
C&W has been dealing with integration issues in the weeks leading up to the merger's completion, but has been aggressively expanding in Chicago. It expanded its offices at 200 S Wacker and acquired leasing brokerage JF McKinney & Associates. It now has a combined 97k SF of office space downtown, and another 17k SF in Rosemont. The firm is mulling options for consolidating operations into one downtown office space. [Crain's]
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