In a move that will expand its team and strengthen its geographic footprint, commercial real estate brokerage Cushman & Wakefield has acquired two firms, adding 200 brokers and 750 employees to its arsenal.
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The two companies, Cushman & Wakefield NorthMarq and Cushman & Wakefield Commerce, are owned by NorthMarq Companies, a private holding company of the Pohlad family of Minneapolis, and will add a combined 50M SF of managed properties across 10 offices to Cushman & Wakefield’s portfolio. The companies have operations in Minnesota, Nevada, Utah and Washington.
NorthMarq Companies and NorthMarq Capital are not included in the acquisition.
“This is far more than an acquisition — this is the formal merging of a trusted partner into our company,” C&W Chief Executive of the Americas Tod Lickerman said in a release.
The leadership teams of C&W will remain in the four markets mentioned above, but Jeff Eaton, president at C&W NorthMarq, will be expanding his presence to the North Central Region with oversight of Chicago, Minneapolis and Detroit.
The deal is expected to close at the end of the month. Further details about the transaction were undisclosed.
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