Celebrating 90 Years Of Commercial Real Estate Leadership

12 Mar, 2007, New York, NY

Firm recognizes nine decades of growth with Global Achievement Conference and the introduction of 90^th Anniversary logo

Cushman & Wakefield, the world’s preeminent real estate services firm, is marking the occasion of its 90^th Anniversary in 2007 by hosting a Global Achievement Conference in Orlando, Fla. for more than 900 of the firm’s global professionals and by introducing a commemorative 90^th Anniversary logo.

Founded in 1917 by J. Clydesdale Cushman and Bernard Wakefield as a property management company in a Madison Avenue storefront, Cushman & Wakefield has grown in 90 years to become the world’s preeminent real estate services firm, with fully integrated operations on six continents.

The firm has grown from a local New York City property manager to a global full-service powerhouse, with revenues reaching $1.5 billion in 2006, up from $1.2 billion in 2005. Today, Cushman & Wakefield has more than 12,000 employees in 201 offices in 55 countries.

“Cushman & Wakefield has thrived in an era that has seen the industry change from local practitioner to truly global providers,” said Cushman & Wakefield President and CEO Bruce Mosler.

Cushman & Wakefield Chairman of the Board John Cushman, grandson of J. Clydesdale Cushman, remarking on the anniversary said: “We take a great deal of pride in our tradition of client service at Cushman & Wakefield, which dates back to our founders, who literally wrote the book on dedication to clients in commercial real estate.”

Mr. Cushman was referring to “Managing: How Modern Business Buildings Are Operated,” the book on managing office properties that was written by J. Clydesdale Cushman, president of Cushman & Wakefield, in 1927.

Mr. Mosler added, the best is yet to come. “Our future growth is being assured by our moves to enhance our capital markets business, diversify our services and expand in Europe and Asia,” he said. “Our Global Achievement Conference in Orlando will emphasize the future while celebrating the past.”

Historical Timeline

1917: Cushman & Wakefield founded by brothers-in-law J. Clydesdale Cushman and Bernard Wakefield as a property management firm in New York City.

1925-1930: The firm becomes a market leader in all real estate services throughout the regional New York area.
1947: The firm wins “Most Ingenious Deal of the Year” award for assembling and selling the land for the site of the United Nations. Cushman & Wakefield has subsequently won numerous industry awards over the years.
1960: the firm begins a national expansion, establishing offices throughout the United States to better serve its clients’ needs.
1963: The Pan Am Building is dedicated with Cushman & Wakefield as original managing and leasing agent.
1969: Cushman & Wakefield becomes project developer of Chicago’s Sears Tower. Later becomes leasing and managing agent for what was then the world’s tallest building.
1970: Cushman & Wakefield is acquired by RCA, a communications giant.
1976: Cushman & Wakefield is acquired by The Rockefeller Group.
1983: The firm sets an industry record by brokering $4.7 billion in aggregate leases and sales.
1990: Cushman & Wakefield establishes a presence in Europe through its strategic alliance with London-based Healey & Baker.
1994: Cushman & Wakefield Worldwide partnership is established with major real estate services firms in the U.S., Europe, Asia, South America, Mexico and Canada.
1998: Cushman & Wakefield merges with Healey & Baker, one of the largest international mergers in commercial real estate history.
1999: New worldwide logo is adopted by all Cushman & Wakefield international operations to convey the firm’s enhanced global position.
2001: Cushman & Wakefield acquires Cushman Realty Corporation, a tenant rep powerhouse in the U.S.
2001-5: Cushman & Wakefield brings its retail brokerage expertise to the U.S., and wins four of five REBNY Retail Deal of the Year awards.
2004: Cushman & Wakefield passes the 400 million square foot mark in property under management.
2004: Cushman & Wakefield is named the No. 1 office investment sales broker in the U.S. by Real Capital Analytics and Real Estate Alert.
2005: Bruce Mosler becomes CEO.
2005: Cushman & Wakefield acquires its affiliate in Russia, establishing Cushman & Wakefield Stiles & Riabokobylko, and its Canadian affiliate, establishing Cushman & Wakefield LePage.

2005: Cushman & Wakefield negotiates the sale of 200 Park Avenue on behalf of MetLife, then the highest price ever paid for an office building.

2006: Cushman & Wakefield purchases the 50 percent of its Mexican operations that it did not already own, bringing its ownership to 100 percent.
2007: Cushman & Wakefield negotiates the sale of 666 Fifth Avenue in Manhattan, the highest price ever paid for an office building, $1.8 billion.

Cushman & Wakefield is the world’s largest privately held real estate services firm. Founded in 1917, the firm has 201 offices in 55 countries around the globe, and 12,000 talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133, or visit the firm’s Web site at www.cushmanwakefield.com.

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